Hero MotoCorp slips ex-dividend : 16 Mar 2017

Hero-MotoCorp-Photo

Hero MotoCorp declined 0.7 percent to Rs 3,376 as the stock turned ex-dividend today, 16 March 2017 for interim dividend of Rs 55 per share for the year ended 31 March 2017.

Meanwhile, the S&P BSE Sensex was up 193.19 points, or 0.66 percent, to 29,591.30

On the BSE, 2,491 shares were traded on the counter so far as against the average daily volumes of 45,890 shares in the past one quarter.

The stock had hit a high of Rs 3,387.35 and a low of Rs 3,367 so far during the day. The stock had hit a record high of Rs 3,739.90 on 8 September 2016 and a 52-week low of Rs 2,754.50 on 22 March 2016.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Before turning ex-dividend, the Hero MotoCorp stock offered a dividend yield of 1.61 percent based on the closing price of Rs 3,399.25 yesterday, 15 March 2017.

On 7 March 2017, Hero MotoCorp had declared an interim dividend of Rs 55 per share for the year ended 31 March 2017. The company’s board has fixed 18 March 2017 as record date for payment of interim dividend. The payment of interim dividend will be completed by 5 April 2017.

Hero MotoCorp’s net profit fell 2.7 percent to Rs 772.05 crore on 12.1 percent decline in net sales to Rs 6245.90 crore in Q3 December 2016 over Q3 December 2015.

Hero MotoCorp is the world’s largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.

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