Rs 850 Dividend Stock: Don't miss action in this MNC stock as it fixes Record date and Ex- Date!

The Board of Directors has declared the Interim (Special) Dividend at Rs 850 per share of Rs 10 each (FV), for the financial year 2022-23.

3M India alongside its Quarterly Results on November 09, the Board of Directors has declared the Interim (Special) Dividend at Rs 850 per share of Rs 10 each (FV), for the financial year 2022-23.  The Dividend will be paid to those shareholders whose names stand on the Register of Members as on the Record date i.e. November 22, while the dividend payment date is given as on or before December 09, 2022.

3M India is a subsidiary of 3M Company, USA. The Company manages its operations in four operating segments: Safety & Industrial, Transportation & Electronics, Health Care and Consumer. In India, the Company has manufacturing facilities at Ahmedabad, Bangalore, Pune and has a R&D Center in Bangalore.

On a consolidated basis, the stock reported a jump of 66 per cent YoY in PAT to Rs 106 crore for the quarter ended September 30, 2022. EBITDA grew by 64 per cent YoY to Rs 143 crore and Sales & other operating rose by 16 per cent YoY to Rs 977 crore.

Commenting on the consolidated quarterly and half yearly results ended September 30, 2022 Mr. Ramesh Ramadurai, Managing Director of 3M India Limited, said “On a consolidated basis, the Company delivered 16.3 per cent sales growth versus prior year, and a 3.5 per cent sales growth on a sequential basis. Transportation & Electronic segment led the growth at nearly 28 per cent versus prior year. Our teams continued to execute multiple actions to mitigate the impact of cost headwinds and supply chain challenges. The external conditions remain uncertain and the Company is diligently monitoring the situation by staying in close contact with customers and supply partners. I would like to thank all of our stakeholders for their support to our Company in another difficult year. I would also like to recognize our employees for their strong and dedicated efforts to serve our customers, and for keeping their morale high under challenging circumstances.”