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Small-Cap Stock’s Record Date for Rs 60/Share Dividend Lined in The Week

Published 26-06-2023, 02:35 am
© Reuters.

By Malvika Gurung

Investing.com -- Maharashtra Scooters (NS:MHSC) will remain under focus in the holiday-shortened week as its shares are scheduled to turn ex-dividend for a 600% dividend for the financial year ended March 31, 2023. 

Maharashtra Scooters is a subsidiary of Bajaj Holdings and Investment Ltd (NS:BJAT).

According to Investing.com's ‘Dividend Calendar’, the Bajaj stock will begin trading ex-dividend on Friday, June 30, 2023.

The Board of Directors of Maharashtra Scooters had recommended a final dividend of Rs 60 per equity share having a face value of Rs 10 each, translating to a 600% dividend for the financial year 2022-23 while releasing its financial earnings for the March-ended quarter.

The corporate reward is subject to the approval of the Bajaj company’s shareholders at the ensuing Annual General Meeting (AGM) to be held on July 24, 2023, through video conferencing.

The small-cap company’s Board of Directors has approved to pay the aforementioned dividend to shareholders holding Maharashtra Scooters’ shares as of the close of business hours on the record date of June 30, 2023.

The final dividend, if approved at the AGM, will be credited or dispatched to eligible shareholders of the company on July 28 and/or July 29, 2023.

The small-cap stock has gained 49% in the past one year and rallied 106% over the past three years’ period.

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