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MRF board recommends final dividend of ₹94 and a special dividend of ₹50

Jun 7, 2021, 19:00 IST
IANS
BCCL
Tyre major MRF Ltd on Monday said it closed last fiscal with a total income of ₹16,128.58 crore and a net profit of ₹1,249.06 crore.
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The company had closed FY20 with a total income of ₹16,321.64 crore and a net profit of ₹1,394.98 crore.

The company also said the Board of Directors have recommended a final dividend of ₹94 (940 percent) per share with a face value of ₹10.

In addition to the final dividend, the MRF Board has recommended a special dividend of ₹50 (500 percent) per share of ₹10 each in connection with the 60th Annual General Meeting of the Company.

The company has already declared and paid two interim dividends of ₹3 each (30 percent) per share for the financial year ended 31st March, 2021.

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The total dividend for the financial year ended 31st March 2021 (including the special dividend) works out to ₹150 (1,500 per cent) per share of ₹10 each.

The year 2021 also marks the completion of 75 years of establishment of Madras Rubber Factory (which was originally established in 1946 as a proprietorship concern for manufacture of toy balloons).

Madras Rubber Factory later took up manufacture of tread rubber at which time it was converted into a partnership concern. Subsequently during the year 1960, it was converted into a limited company after which it started manufacture of automotive tyres and tubes.

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