Hero Honda declares 3,500 per cent dividend

13 Apr 2011

1

India's largest two-wheeler maker Hero Honda today declared a 3,500 per cent interim dividend of Rs70 per equity share of Rs2 each.

During its board meeting today, the company considered and declared "an interim dividend of 3,500 per cent that is Rs 70 per equity share of Rs 2 each", the company said in a filing with the Bombay Stock Exchange (BSE).

The company, however, did not say how much would be the capital outgo due to the dividend and other details regarding the period for the dividend.

The news sent shares of the company surging to Rs1,742 a piece, up 6.28 per cent on the BSE during late-afternoon.

The company last year declared a Silver Jubilee Special Dividend of 4,000 per cent or Rs80 per equity share of Rs2 each.

In 2009, the company said it had on hand a huge cash reserve exceeding Rs4,000 core which it was looking to utilise and was considering several options including special dividend to its shareholders and expanding capacity.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers