Anand Mahindra, the eclectic chairman of the Mahindra Group makes rounds every now and then with his acclaiming but sometimes critical tweets. Similarly, the shares of the Mahindra Group companies have been in the limelight due to their impressive Q4 results. Here are three companies which have their ex-dividend dates approaching in the near future.
Mahindra Lifespace Developers
The wholly-owned real estate and infrastructure development arm of Mahindra Group has advanced 120% in the last year, from ₹ 193.53 to ₹ 419.70 as of Monday.
It scored a net profit of ₹ 136.82 crores in Q4 FY22 as against a net loss of ₹ 27.2 crores in the same quarter the previous year. The consolidated net sales surged 188% year on year to ₹ 161.76 crores in the quarter ended March 2022 as against ₹ 55.99 crores posted in the Q4 FY21.
The board has recommended a dividend of ₹ 2 per share for the fiscal year ended 31 March 2022. The ex-dividend date for the same has been set up as 19 July.
Mahindra and Mahindra Financial Services
Mahindra & Mahindra Financial Services reported a whopping four-fold increase in net profit for the March quarter ended 2022 ₹ 601 crores against ₹ 150 crores in the year-ago period on credit cost reversal and a steady rise in business. Asset quality improved considerably and ₹ 951 crores of provisions were written back.
The rural non-banking financial company is among the top tractor financiers of India. It has proposed a dividend of ₹ Rs 3.6 per equity share with the ex-dividend date of 20 July.
Tech Mahindra
Tech Mahindra announced a final dividend of ₹ 15 per share and a special dividend of ₹ 15 per share on its 25.7% jump in net profit for the fiscal year 2021-22 to Rs 5,566 crore compared to last year. For the quarter ended 31 March 2022, its net profit increased by 39.2% year-on-year.
The ex-dividend dates for both are 21 July. After taking into consideration the interim dividend of ₹ 15 declared on November 2021, the total dividend for FY22 will be ₹ 45 per share on the par value of ₹ 5.
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