Bajaj Auto board to discuss share buybacks; dividend payout of Rs140 per share

27 Jun 2022 , 09:53 AM

The proposal for the buyback of equity shares will be discussed at today’s board meeting of Bajaj Auto.

In an exchange filing on June 22, Bajaj Auto stated, “We desire to tell you that a meeting of the board of directors of the company is planned to hold on June 27 to further discuss the proposal for buyback of fully paid-up equity shares of the company.”

After this meeting, the buyback’s price and other specifics will be made public.

In a previous meeting on June 14, the business had postponed the buyback program. The buyback plan had been postponed with a statement that said, “We desire to advise that the board of directors of the Company at its meeting held on June 14, concluded that additional considerations are required in order to reach a decision on the proposal of buyback, and therefore deferred the topic.”

The trading window for the company’s securities closed on June 9 and will stay closed until June 29 (both days inclusive) in accordance with the Company’s Code of Conduct, which was created in accordance with Sebi.

The automaker also disclosed in an announcement that it would pay its shareholders a dividend of Rs140 per share. “The Board of Directors has approved or recommended a dividend on equity shares for the fiscal year that ended on March 31 at a rate of Rs140 per share (1400%) of the face value of Rs10 per share, in accordance with the company’s dividend distribution policy. If shareholders at the upcoming Annual General Meeting elect to declare the dividend, it will be credited or distributed on or about July 30 “About the dividend payment, Bajaj Auto was informed.

According to the statement, “The dividend, if declared, shall be paid to the equity shareholders whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as of July 1, which is the record date set for such purpose.”