Hero MotoCorp is set to issue its first dividend for the current financial year on Wednesday, making it the last day for investors to purchase shares to qualify for the payout.
The two-wheeler maker declared a record dividend of Rs 100 per equity share with a face value of Rs 2, and the record date for eligibility is set for Wednesday. The company had announced the dividend along with their quarterly financial performance on Feb. 6.
Under the T+1 settlement mechanism, investors must ensure their purchase is completed a day before the record date. This means shares bought on Tuesday will be settled in time for shareholders' names to appear on the company's records on Wednesday, securing their entitlement to the dividend.
Investors aiming to benefit from the dividend must ensure their purchases are completed on Tuesday to be included in the company's shareholder records on the record date. The payment of the dividend is expected to be completed by March 8. The company had issued Rs 135 in dividends in the previous fiscal.
Hero MotoCorp Q3 FY25 Results (Standalone, YoY)
Hero MotoCorp delivered robust third-quarter earnings, boosted by a surge in sales and a focus on premiumisation.
Standalone net profit for India's largest two-wheeler manufacturer rose 12.1% year-on-year to Rs 1,203 crore in the three months ended Dec. 31, 2024, while revenue climbed 5% to Rs 10,211 crore.
Revenue up 5% at Rs 10,211 crore (Estimate: Rs 10,235 crore).
Ebitda up 8.4% at Rs 1,476 crore (Estimate: Rs 1,162 crore).
Margin expands 50 basis points at 14.5% (Estimate: 14.2%).
Net profit up 12.1% at Rs 1,203 crore (Estimate: Rs 1,162 crore).
Hero MotoCorp's stock fell as much as 2.45% during the day to Rs 4,170.10 apiece and closed 1.83% lower at Rs 4,274.65 apiece, compared to a 0.71% decline in the benchmark Nifty 50 on Monday. It has fallen 14.51% in the last 12 months.
Twenty-six analysts tracking the company have a 'buy' rating on the stock, 11 recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets on the stock is Rs 4,906.56, implying an upside of 16.9%.
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