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Dividend paying stock to announce share buyback next week. Details here

Dividend paying stock: Board of directors of the company will consider share buy back in its scheduled meeting on 27th June 2022 i.e. on Monday next week. (MINT)Premium
Dividend paying stock: Board of directors of the company will consider share buy back in its scheduled meeting on 27th June 2022 i.e. on Monday next week. (MINT)

  • Dividend paying stock is going to turn ex-dividend share next  week as the board of director of the large-cap auto            company has fixed 1st July 2022 as record date for finalisation of eligible shareholders for 1400 per cent dividend payment

One of the dividend paying stocks in 2022, board of directors of large-cap auto company Bajaj Auto Limited is going to consider share buyback next week. The auto company has in formed Indian bourses that in board of directors' meeting scheduled on 27th June 2022 i.e. Monday next week will consider buyback of securities of the company. Buyback price and other details are expected to come out after this meeting. Also, the large-cap stock is going to turn ex-dividend next week as the board of directors has fixed 1st July 2022 as record date for finalisation of eligible shareholders for dividend payment. The company has already announced a dividend of 140 (1400 per cent) for the financial year 2021-22.

Bajaj Auto Limited informed Indian bourses about share buyback citing, "In furtherance to our letter dated 9 June 2022 with respect to convening of the meeting of the Board of Directors of the Company ("Board") and letters dated 14 June 2022 with respect to the outcome of the said meeting, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 27 June 2022, inter-alia to further deliberate on the proposal for buyback of fully paid-up equity shares of the Company in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018."

The large-cap dividend paying company has already announced record date for dividend payment. In its recent exchange communication, Bajaj Auto informed about dividend payment citing, "In line with the Company's Dividend Distribution Policy, the Board of Directors has approved / recommended a dividend at the rate Rs. 140 per share (1400%) of face value of Rs. 10 each on equity shares for the financial year ended 31 March 2022. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around 30 July 2022."

The company went on to add, "The Dividend, if declared, shall be paid to the equity shareholders whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, 1 July 2022, which is the Record Date fixed for the purpose."

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