Rs 32/Share Dividend: Small Cap Auto Ancillary Stock To Go Ex-Dividend Next Week

Small Cap Auto Ancillaries sector company, Automotive Axles Ltd. (AAL) is set to trade ex-dividend next week. The Board of Directors of the company has fixed record date on Thursday, July 27, 2023, for dividend. On May 16, 2023, the Board of Directors recommended a dividend of Rs 32 per equity share of Rs 10 each for the financial year 2022-23. The market cap of the company is Rs 3,364.69 Crore.

The 42nd Annual General Meeting is scheduled to be held on Thursday, August 3, 2023, at 3:00 P.M (IST) through Video Conferencing/Other Audio Visual Means, according to the company's regulatory filing.

Record Date For Dividend

"The Company has fixed 27th July 2023 as the 'Record date/Cut-off date' for determining eligibility of members for e-Voting and Final dividend for the financial year ended March 31, 2023, if approved at the AGM," the Board of Directors of the company said in an exchange filing.

Dividend

The Board of Directors of the company said in an exchange filing "We hereby intimate that the Board has recommended a dividend of Rs. 32/- per share of Rs.10/- each for the Financial Year 2022-23, subject to the approval of the shareholders of the Company at the ensuing Annual General Meeting."

Stock Movement

The share price of Automotive Axles last traded at Rs 2,226.80 apiece on BSE, up 1.35% from its previous close of Rs 2197.20 apiece. Its 52-week low is Rs 1,554 apiece and 52 week high is Rs 2690 apiece.

In the past 1 week, the stock has fallen 0.84%. It gave 14.28% positive return in the past 1 year. In the past 2 years, it has given 59.87% positive return. In the past 3 years, it has given 326.30% positive return. It gave 89.19% positive return in the past 5 years.

About - Automotive Axles Limited (AAL)

Established in 1981, Automotive Axles Limited (AAL) is a joint venture of Kalyani Group and Meritor Inc., USA. With manufacturing facilities located at Mysore in Karnataka and Jamshedpur in Jharkhand, the company manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses pertaining to segments such as light, medium & heavy commercial vehicles, military & off-highway vehicles, aftermarket and exports. As a continuous process, the company believes in introducing new products regularly to meet the emerging needs of the commercial vehicle market.

Disclaimer
The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.