HomeCorporates Hero MotoCorp Declares Interim Dividend

New Delhi: Hero MotoCorp, India’s largest two-wheeler maker, on Thursday declared an interim dividend of Rs 40 per equity share for the financial year ending March 31.

“The Board of Directors of the company at its meeting held on March 10, 2016 has approved and declared the interim dividend at the rate of 2,000 per cent i.e. Rs 40 per equity share of Rs 2 each for the financial year ending March 31, 2016,” Hero MotoCorp Ltd said in a filing to the BSE.

Earlier this month, Hero MotoCorp reported a 13.6 per cent rise in sales at 5,50,992 units last month as against 4,84,769 units in February 2015.

“These numbers have been possible in spite of the production at Hero’s manufacturing facilities in Gurgaon and Dharuhera in Haryana and at Neemrana in Rajasthan being impacted for a few days due to local agitations in the region during the month,” the company said.

Through relentless effort, the company made up for the lost days when dispatches from these plants were affected due to blockade of the national highways and other roads, it said.

At 3:03 p.m., shares in Hero MotoCorp were trading 0.25 per cent lower at Rs 2,810 apiece on the BSE, whose benchmark Sensex index was down 0.56 per cent.