MRF LTD Dividend 2024 Record Date, Share Price, History

What Is MRF Ltd.?

News: MRF Ltd., headquartered in Chennai, is a prominent tire manufacturer in India. Known for its high-quality products, MRF has been a favorite among investors due to its consistent performance.

The Second Interim Dividend

For the financial year ending March 31, 2024, MRF has exciting news for its shareholders. The company’s Board of Directors has declared a second interim dividend. Let’s dive into the details:

1. Dividend Amount

The Board has approved a dividend of Rs 3 per equity share (which translates to 30% of the share value) for the financial year 2024.

2. Record Date

The record date for this dividend is Wednesday, February 21, 2024. If you own MRF shares on or before this date, you’ll be eligible to receive the dividend.

3. Payment Date

The dividend will be paid on or after March 4, 2024.

MRF’s Strong Financials

MRF Ltd. has been performing exceptionally well. Here are some key highlights:

1. Q3FY24 Results: The company reported a consolidated profit after tax of Rs 509.71 crore for the October-December 2023 quarter. This is a significant increase compared to the same period last year when it recorded Rs 174.83 crore in profit.

2. Nine-Month Performance: For the nine-month period ending December 31, 2023, MRF’s consolidated profit surged to Rs 1,685.12 crore, up from Rs 428.29 crore during the same period a year ago.

3. Share Price History: MRF’s stock has delivered impressive returns, with a 94.65% increase over the last two years.

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About MRF LTD :

Origins and Name

The story of MRF begins with its founder, K. M. Mammen Mappillai, who started a humble toy balloon manufacturing unit in Tiruvottiyur, Madras (now Chennai). As the company expanded, it transitioned from making balloons to producing tread rubber. The name “MRF” harks back to its early days when it was known as the Madras Rubber Factory.

Key Facts

1. Industry Leader: MRF is the largest tyre manufacturer in India, producing a wide range of tyres for various vehicles, including passenger cars, trucks, buses, and two-wheelers.

2. Global Reach: The company’s influence extends worldwide, serving customers across different continents.

3. Product Portfolio: MRF manufactures not only tyres but also other rubber products, such as treads, tubes, and conveyor belts. Additionally, they dabble in paints and toys.

4. Sports and Development: MRF runs the MRF Pace Foundation in Chennai, nurturing cricket talent, and the MIDD – MRF Institute of Driver Development, focusing on safe driving practices.

Achievements

1. AAA− Brand Grade: MRF has earned the distinction of being the world’s second-strongest tyre maker, a testament to its unwavering commitment to quality.

2. Export Pioneers: In 1967, MRF became the first Indian company to export tyres to the USA.

3. Innovation: Over the years, MRF has introduced various tyre models, including those for go-karts, rally cars, and all-terrain vehicles.

MRF Ltd. continues to be a strong player in the market, rewarding its shareholders with dividends while maintaining robust financials. If you’re an investor, keep an eye on the record date and ensure you don’t miss out on this dividend payout!

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