Dividend Stock beats FD rates and gives a consistent dividend yield of 10%

Dividend Stocks
Dividend Stocks beats FD Rates

On Thursday last week, auto parts manufacturer, Goodyear India announced a dividend of Rs100 per share for the financial year ended 31 March. Within a week of the announcement, the company’s shares rose from Rs 877.45 levels to Rs 1034 levels, up 17.18%.

“The final and special allocation, if approved by the members, at next year’s general meeting scheduled for Monday, August 1, 2022, will be paid within the stipulated time for those members whose names will appear in the membership register on Monday, July 25, 2022,” the company said in a statement.

The company has paid dividends since 2013. Currently, it has paid 9.87% dividends. It has a market capitalization of ₹ 2,337 crores. Its shares changed 24,73,057 hands on Thursday.

In 2020 the company paid ₹ 93, in 2021 the company paid ₹ 98 and this year the company will pay ₹ 100.

In addition, the company also announced its financial results on May 26 in the fourth quarter ending March 31, 2022. It posted a 5% annual increase in total revenue of ₹ 603 crores in Q4FY22, however, its total margins were not positive. affected by the high cost of goods sold (increased by 10%) due to rising material prices in all categories. In addition, some of its costs have contributed to rising fuel prices.

Sandeep Mahajan, chairman and executive director of Goodyear India, said, “The whole business environment remains a challenge. We are focused on eliminating high inflation through inflation, increasing our supply chain, and finding opportunities to promote profitable growth. ”

“Despite the impact of demand from the latest Omicron wave, our consumer exchange business continues to perform well with continued growth year on year, leveraging the potential of Goodyear and our industry-leading products,” he added.


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