Most of the companies declared dividend after the Q4 results of the current fiscal, but it is important to note that one must look at companies that are virtually debt-free and have a consistent record of paying dividends. Since dividends are a great way to make passive income, buying high-quality stocks is a solid strategy. As a result, here are three Mahindra Group companies that will pay dividends soon.
Tech Mahindra
Tech Mahindra reports 39.2 percent year-on-year growth in net profit for the quarter ended March 31, 2022, the company reports a net profit 1,506 crore for the January-March quarter of FY 2012, up from a net profit of Rs. 1,081 crore last year. Its net profit for the financial year 2021-22 grew by 25.7% 5,566 crore from the previous year, and Tech Mahindra’s Earnings Per Share (EPS) reached 62.8 for FY22. For the financial year ending March 31, 2022, the Board of Directors has proposed a final dividend of 15 per share and a special dividend of 15 per share at the face value of 5. As per the Company’s financial reports, the final dividend, if approved, will be paid on August 9, 2022. Tech Mahindra has declared an equity dividend of 900.00 per cent, which is equal to 45 per share, for the financial year ended March 2022. at current share price 1125.05, this translates into a dividend yield of 4%.
Mahindra & Mahindra Financial Services
For the financial year ended March 31, 2022, the Board of Directors has recommended a dividend of Rs. 3.60 per equity share with a face value of Rs. 2 each (ie 180 percent). Dividend payment is subject to approval by the members of the Company at the ensuing 32nd Annual General Meeting (“AGM”). The declared dividend will be paid after July 28, 2022 to those shareholders whose names appear in the record book of the company as on July 21, 2022. Mahindra & Mahindra Financial Services has declared 180 per cent equity dividend. 3.6 per share for the financial year ending March 2022. This translates to a dividend yield of 1.93 percent at the current share price. 186.35.
Mahindra Lifespace Developers
For the financial year ending March 31, 2022, the board recommended dividend 2 per share. In Q4 FY22, the firm reported a net profit of 136.82 crore, as compared to 27.2 crore in Q4 FY21. In FY22, the firm reported a net profit of 161.71 crore, as compared to 71.45 crore last year. Net sales up 136.7 percent year-on-year 393.55 in FY12 over FY12, while consolidated net sales grew by 188 percent 161.76 crore in the quarter ended March 2022, as compared to 55.99 crore in the year-ago quarter. Mahindra Lifespace Developers has declared an equity dividend of 20.00 percent equal to with a face value of 2 per share 10 for the financial year ending March 2022. This results in a dividend yield of 0.48 percent at the current share price. 412. Stock will become ex-dividend on 19.07.2022.