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Bajaj Auto board meet today to consider buyback; dividend at Rs 140 per share on cards

The Board of Directors of Bajaj Auto will meet today to discuss the proposal for the buyback of equity shares of the company.

June 27, 2022 / 08:15 AM IST
Bajaj Auto | CMP: Rs 3,780 | The scrip jumped 4 percent after the auto firm informed exchanges that the board of directors will meet on June 27 to further deliberate on the proposal for buyback of equity shares of the company.

Bajaj Auto | CMP: Rs 3,780 | The scrip jumped 4 percent after the auto firm informed exchanges that the board of directors will meet on June 27 to further deliberate on the proposal for buyback of equity shares of the company.

The Bajaj Auto board of directors will meet today to discuss the proposal for buyback of equity shares.

"We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on June 27 to further deliberate on the proposal for buyback of fully paid-up equity shares of the company," Bajaj Auto said in an exchange filing on June 22.

The price and other details of the buyback will be revealed after this meeting.

Earlier, the company had deferred the buyback plan in a meeting held on June 14. "We wish to inform that the board of directors of the company at its meeting held on June 14, decided that further deliberations are required in order to take a decision on the proposal of buyback, and accordingly deferred the matter," it had said while postponing the buyback plan.

As per the Company's Code of Conduct framed pursuant to Sebi, the trading window for the securities of the company closed on June 9 and will remain closed until June 29 (both days inclusive) for the designated persons.

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In a release, the auto company also announced the distribution of dividend to its investors at the rate of Rs 140 per share. "In line with the company's Dividend Distribution Policy, the Board of Directors has approved / recommended a dividend at the rate Rs. 140 per share (1400 percent) of face value of Rs 10 each on equity shares for the financial year ended March 31. The said dividend, if declared by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or around July 30," Bajaj Auto notified about dividend payment.

"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 on July 1, which is the record date fixed for the purpose," it said.
first published: Jun 27, 2022 08:15 am
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