Ashok Leyland Shares Gain on Interim Dividend Announcement of ₹4.95 per Share

ASHOK LEYLAND’S INTERIM DIVIDEND

Ashok Leyland announced an interim dividend of ₹4.95 per share for the financial year ending March 2024.

MARKET REACTION

The market reacted positively to the dividend announcement, with the share price surging over 2% during early Tuesday trading. This increase signals investor confidence in the company’s financial health and commitment to returning value to shareholders through dividends.

DIVIDEND PAYOUT

The interim dividend implies a payout of 495% to the face value.

RECORD DATE AND PAYMENT

The record date for the interim dividend is April 3, 2024, and the payment will be made on or before April 23, 2024.

EX-DIVIDEND DAY

Ashok Leyland shares will trade ex-dividend on April 3, as per the T+1 settlement cycle.

FINANCIAL PERFORMANCE

The company showcased robust financial performance in the quarter ending December 2023, reporting a standalone net profit of ₹580 crore. This impressive figure represents a substantial growth of 60.5% compared to the same period last year, indicating significant profitability and operational efficiency improvements.

Also Read: How Ashok Leyland Is Creating A Future Ready Workforce By Steering A Digital Culture Of Learning

CLOSING

At 9:20 am, Ashok Leyland shares exhibited a slight uptrend, trading 0.87% higher at ₹168.00 apiece on the BSE. This movement suggests early morning optimism among investors, potentially driven by positive market sentiment or company-specific factors.

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