Bajaj Auto trades ex-dividend
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Bajaj Auto is trading 1% higher at Rs 2,250 (adjusted to dividend) on the BSE as the stock turned ex-dividend today, for an interim dividend of Rs 50 per share.
The board of directors of the two-and-three wheeler manufacturer at its meeting held on March 09, 2016, had declared an interim dividend at the rate of Rs 50 per equity share of Rs 10 each (i.e. 500 %), for the financial year ending March 31, 2016 (FY16).
The payment thereof shall be credited / dispatched by around March 28, 2016, Bajaj Auto said in a statement.
The stock opened at Rs 2,244 and hit a high of Rs 2,259 on the BSE so far. A combined 107,316 shares changed hands on the counter on the BSE and NSE till 10:31 AM.
Thus far in 2016, the stock had underperformed the market by falling 10% as compared to 6% decline in S&P BSE Sensex till yesterday.
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