With a return of ₹27 on each share, the auto parts maker will make shareholders rich, by which time money must be invested

Lumax Dividend: After the quarterly results, companies have started paying dividends. In this episode, another Lumax Industries name has been added. Lumax has approved a final dividend of 270 percent for its shareholders. The par value of a share of the company is 10 rupees. In connection with this, its shareholders will receive a dividend of Rs. 27 per share. The company pays the final dividend for the year ended March 31.

Board approval is still required for this dividend. The 42nd Annual General Meeting of the company is scheduled to take place on August 22, 2023, and only then will a resolution be passed. Significantly, the dividend recommendation is made only by the board, so approval by the meeting is a mere formality. Lumax Industries has announced that it will pay the dividend within 30 days of receiving board approval.

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When is the ex-dividend date?
Ex-dividend is the date by which shareholders only benefit from the dividend after purchasing the shares. Normally the next day (unless there is a public holiday) is the key date. On the record date, the company sees the list of its shareholders to whom the dividend should go. Lumax has not yet announced an ex-dividend or record date.

Has already declared a dividend
Lumax has already paid a dividend. The company had paid a dividend of Rs.13.5 in 2022, Rs.7 in 2021 and Rs.6 in 2020. The company previously paid a dividend of Rs.35 per share in 2019. That said, Lumax has consistently paid dividends to its shareholders over the past five years.

about the company
Lumax has a factory in Gurugram. It manufactures parts for vehicles. His customers include many large automobile manufacturers. Its promoters hold 75 percent of the shares in Lumax. At the same time, the rest lies with private investors. The trend for foreign investors in the company looks very good. In 2022, 0.47 percent of the shares were owned by foreign institutional investors, and in 2023 the proportion rose to 0.84 percent.

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