The industrial company Cummins India Limited is a large-cap company with a market cap of Rs. 31,258.46 crores. Cummins India Limited is the top producer of diesel and natural gas engines in the country. Diesel and alternative fuel engines are designed, produced, distributed and serviced by the company.
In its meeting on May 26, 2022, the Board of Directors of the company recommended a final dividend of Rs. 10.50 per equity share. with face value 2, it gives a dividend of 525 percent. Cummins India has announced a 525 per cent equity dividend, or Rs. 10.50 per share for the financial year ending March 2022. Dividend Yield at Current Share Price 1127.65 is 0.93 percent.
For the purpose of dividend, the Company in an exchange filing stated that “The Board of Directors of the Company in its meeting held on May 26, 2022 has recommended a final dividend of Rs. 10.50/- per equity share. FY 2021- The record date of final dividend for 22 will be Wednesday, August 03, 2022. The payment of final dividend approved by the members at the upcoming AGM will be done electronically through various online transfer modes on September 06, 2022. Mode for members who have signed their Bank account details updated. For members who have not updated their bank account details, dividend warrants/demand drafts/cheques will be sent by post to their registered addresses subject to availability of postal services.”
Shares of Cummins India closed 1127.65 level on Friday, up 3.43% from its previous close 1090.30. Cummins India is trading above the 5-day, 20-day, 50-day, 100-day and 200-day moving averages at the current market price. The stock is up 31.12% over the last year, and on a YTD basis, it has climbed 19.90% so far in 2022. The stock has gained 14.36 percent in the last six months and 17.56 percent in the last month. The stock’s NSE performance was up 1.32% in the last five days.
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