Apollo Tyres announced 600% dividend. Stock zooms 16% in 1 year.
Apollo Tyres Ltd is an international tyre manufacturer and the leading tyre brand in India. The company has a total of six manufacturing units — 4 in India and 1 each in the Netherlands and Hungary. India’s fifth and 7th globally, is coming up in Andhra Pradesh.
The company markets its products under its two global brands – Apollo and Vredestein, and its products are available in over 100 countries through a vast network of branded, exclusive and multi-product outlets. The product portfolio of the company includes the entire range of passenger car, SUV, MUV, light truck, truck-bus, two-wheeler, agriculture, industrial, specialty, bicycle and off-the-road tyres, and retreading material and tyres.
Apollo Tyres Dividend
On June 14, 2024 , Apollo Tyres announced a dividend of Rs. 6/sh which amounts to 600% of its Face Value(Rs 1)/share. The Record date for dividend is Friday, 5 July,2024 ,whereas the Payment Date is Saturday 24,August,2024.
Anybody who wants to get the dividend must purchase the shares on/before 4 July, 2024 to get themselves resister in the record of the eligible receivers of the dividend.
The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 5 July, 2024 and still they will be eligible to receive the dividend as their name would have been registered on 4 July, 2024.
It is to be noted that on the record date , the share price of Apollo Tyres may fall by the dividend amount i.e it may fall by Rs 6 in the opening session to adjust its price to ex-dividend.
So investors are adviced to make their decision wisely .
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