Memes flooded over twitter, when Tyre company MRF announced a second interim dividend priced at Rs 3 per equity share worthy of 89000 on Thursday. Shareholders and twitter users through their social media handle expressed a sense of disappointment for announcing such a pittance amount as dividend for the share worth 89K.
MRF gets Trolled for Offering Dividend
The recognised MRF company declared dividend at price even lower than it’s issue price. The users tagged the company to be ‘embarrassed’ for announcing such a minimal amount as payment of interim dividend. The record shows that the amount will be fixed on 21st February, 2023 and the dividend be received on or after March 6, 2023. (Interim Dividend – It is a type of dividend paid out to the shareholders by the company before the company declares it’s final settlement of dividend on the share price) Company’s Net profit, Revenue and Expenses for Q3FY22 (3rd quarter of the year 2022) MRF Tyres also announced its net profit for the year 2022 , which rose 17% to 175 crores as against the previous year 149 crores in Q3FY22. MRF also announced it’s increment in revenue earnings which rose to Rs 5,645 crore as compared to Rs 4,920 crore in Q3FY22. The expense of company on annual basis grew to Rs 5485 crores which is about 14.57% rise as against the previous year.Cost of goods sold (COGS) stood at Rs 3795 crores (which is upto 25.01% YoY) Employee Benefits Expenses stood at Rs 411.32 crores (upto 7.98% YoY)YoY- year over year
MRF gets Trolled for Offering Dividend-MRF gets Trolled for Offering Dividend
MRF tyres is being criticised over announcing such a minimal price on 89000 worth share value. This has become a meme material for the users and twitter have been flooded with memes, amusing users as a joke. However, the drastic downfall of the declared dividend is a matter of concern to the shareholders and the investors. For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.