MRF Board recommends final dividend of ₹194 per share, check details

Tyremaker MRF Ltd announced a final dividend of ₹194 per share, or 1,940% of the face value of ₹10 each, for the financial year 2024. The total dividend for FY24, along with the company's two interim dividends of ₹3 each, comes at ₹200.

The company’s total dividend for the financial year 2023-24 represents 2,000% of the face value of ₹10 per share.

This is the highest-ever dividend announced by the company for a financial year since the year 2000, according to available data.

MRF dividend yield

For the financial year 2023-24, MRF declared a total dividend of ₹200 per share. At the current market price of ₹1,28,400, the dividend yield of MRF stands at 0.16%.

MRF has been consistent in giving dividend payout for the last five years. In fact, it has gradually increased its dividend payout in the last three years. MRF's dividend in FY23 was ₹175 while in FY22, it stood at ₹150.

MRF Q4 result

MRF's Q4 consolidated profit rose 16.3% year-on-year to ₹396.11 crore from ₹340.65 crore in the same quarter last year.

Total comprehensive income for the period attributable to the owners of the company rose 18.2% YoY to ₹370.52 crore from ₹313.53 crore in the corresponding quarter of the last financial year.

Revenue from operations for the quarter under review rose to ₹6,349.36 crore from ₹5,841.72 in the same quarter last year, registering a year-on-year rise of 8.7%.

At close, MRF share price quoted ₹1,28,400 apiece, down 4.08%, on the NSE on Friday.

Meanwhile, equity benchmark NIFTY50 closed with a loss of 0.76% at 22,475.85 with 35 stocks in the red. Shares of Larsen & Toubro, Maruti, Nestle and Reliance Industries ended as the top losers in the NIFTY index. On the other hand, shares of Coal India, Grasim and ONGC ended as the top gainers in the index.