Ingersoll-Rand (India) zooms 20% on special dividend of Rs 202 per share

Shares of Ingersoll-Rand (India) are locked in upper circuit of 20% or by Rs 142 at Rs 854 per share on the BSE after the company said its board declared a “special dividend” of Rs 202 per equity share as second interim dividend for the financial year ended March 31, 2018 (FY18).

The record date for the payment of the special dividend is May 25, 2018 and the dividend will be paid on June 8, 2018.

The board also recommended a final dividend of Rs 3 per share, taking total dividend of Rs 208 for the FY18. The company in November 2017 had paid interim dividend of Rs 3 per share.

Meanwhile, the company reported 25% year on year (YoY) growth in its net profit at Rs 255 million for the quarter ended March 2018 (Q4FY18). It had profit of Rs 204 million in year ago quarter. Revenue from operations however, declined 10.5% at Rs 1,363 million on YoY basis.

Till 09:29 am; a combined 99,640 shares changed hands and there were pending buy orders for 79,622 shares on the BSE and NSE.