Home / Markets / Stock Markets /  This industrial stock fixes record date for 525% dividend: Details here
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The industrial company Cummins India Ltd. is a large-cap company with a market cap of Rs. 31,258.46 Crore. The nation's top producer of diesel and natural gas engines is Cummins India Limited. Diesel and alternative fuel engines are designed, produced, distributed, and serviced by the company.

At its meeting on May 26, 2022, the Company's Board of Directors recommended a final dividend of Rs. 10.50 per equity share. With a face value of 2, this yields a 525 per cent dividend. Cummins India has announced a 525 per cent equity dividend, or Rs. 10.50 per share, for the fiscal year that ended March 2022. The dividend yield at the current share price of 1127.65 is 0.93 per cent.

For the purpose of dividend, the company has said in an exchange filing that “The Board of Directors of the Company in their meeting held on May 26, 2022, has recommended Final Dividend of Rs. 10.50/- per equity share. The Record Date for final dividend for the Financial Year 2021-22 will be Wednesday, August 03, 2022. The final dividend once approved, by the Members in the ensuing AGM, will be paid on September 06, 2022, electronically through various online transfer modes to those Members who have updated their bank account details. For Members who have not updated their bank account details, dividend warrants/ demand drafts/ cheques will be dispatched to their registered address by post subject to availability of the postal services."

The shares of Cummins India closed at 1127.65 level on Friday, up by 3.43% from its previous close of 1090.30. Cummins India is trading above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages at the current market price. The stock has gained 31.12% over the past year, and on a YTD basis, it has climbed 19.90% so far in 2022. The stock has gained 14.36 per cent over the past six months and 17.56 per cent over the past month. The stock's NSE performance for the previous five days was up by 1.32%.

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