MRF Dividend 2023, MRF Share Price Target: MRF has announced 1690 per cent dividend per equity share. MRF is India’s most expensive stock.

A dividend is always calculated and paid on the face value of an equity share. The dividend amount approved has nothing to do with the market price of the shares.

MRF Dividend 2023 Per Share

In case of MRF, the company has announced 1690 per dividend per equity share bearing a face value of Rs 10 each. The dividend amount translates into Rs 169 per share. It means that the company will pay Rs 169 dividend per share to the eligible shareholders.

“The Board of Directors have recommended a final dividend of Rs 169/- (1690%) per share of Rs.10 each,” the company said in a regulatory filing.

MRF Dividend 2023 Record Date

To determine the eligibility shareholders for the payment of dividend, a company fixes record date. The dividend is paid to shareholders who hold the shares of the company on record date.

However, the MRF board is yet to fix the record date for determining the eligibility shareholders for the payment of Rs 169 dividend per share.

MRF Share Price In 1990

The company was incorporated in 1946. MRF is the country’s most expensive stock. MRF stock on October 17, 2001, quoted at Rs 401 apiece, according to exchange data.

MRF Share Price Target

Domestic brokerage firm Motilal Oswal has initiated a Sell call on MRF shares. The leading brokerage feels that MRF is likely to underperform peers due to weak competitive position.

It said that MRF’s competitive positioning within the sector has weakened over the past few years, which is also being reflected in the dilution of pricing power in the Passenger Car Radial (PCR) and Truck and Bus Radial (TBR) segments. This, coupled with the impact of capital expenditures, should result in limited expansion in return ratios.

On the company’s 4QFY23 performance, it said that the numbers surprised positively as lower raw materials costs boosted EBITDA margin to 14.7 per cent. It said that EBITDA margin recovery is expected to continue in FY24 on the back of softening raw materials and operating leverage.

MRF Dividend History

The tyre company had in February 2023 paid Rs 3 interim dividend to its shareholders. Back in November last year, the company had paid also paid an interim dividend of Rs 3. In July 2022, the Chennai headquartered multinational had paid Rs 144 dividend per share.

MRF Share Price Target 2023

Domestic brokerage firm Motilal Oswal has initiated a Sell call on MRF stock. It said that MRF is likely to underperform peers due to weak competitive position. The brokerage has set a price target Rs 75,400.