Hero Honda, the country’s largest two-wheeler maker, today declared a 3,500 per cent interim dividend of Rs 70 per equity share of Rs 2 each.
The company, whose board met today, did not mention how much will be the capital outgo due to this exercise and other details regarding the period for the dividend. Its shares were trading 5.9 per cent up at Rs 1,735.10 each on the Bombay Stock Exchange during late afternoon.
During April-December 2010, the company’s net profit fell 12.7 per cent to Rs 1,426 crore from Rs 1,633 crore during the corresponding period the previous year. Total net operating income during the nine-month period increased 19.4 per cent to Rs 14,010 crore from Rs 11,738 crore in the year-ago period.
Toshiyuki Inuma was appointed a non-executive additional director on the board with effect from today. The company also approved resignations of non-executive director Yuji Shiga and non-executive and independent director Shobhana Bhartia from its board.