Goodyear announces dividend; stock surges 14 per cent

The shares of Goodyear India Ltd surged around 13.62 per cent after the company’s board of directors declared an interim dividend at its meeting held on Monday.

The company declared an interim dividend of Rs 80 per share of a face value of Rs 10 each for FY21. The record date for determining the entitlement of the members for the interim dividend has been fixed as December 15, 2020.

Looking at the quarterly financials of the company, it posted a 5.95 per cent growth in the net sales to Rs 481.10 crore in Q2FY21 from Rs 454.08 crore in Q2FY20. The company reported an increase of 28.5 per cent in PAT from Rs 37.79 crore in Q2FY20 from Rs 48.56 crore in Q2FY21.

Goodyear is one of the leading domestic players in the tyre segment. The company develops, manufactures, markets & distributes tyres for various applications. It also manufactures & markets rubber-related chemicals for various applications and operates commercial truck services as well as tyre retreading centers as well.

On Monday, the stock of the company closed at Rs 996.95 per share, gaining by 13.62 per cent or by Rs 119.50 per share. Its 52-week high is Rs 1,186.80 while the 52-week low is Rs 531.25 on BSE.