India's most expensive stock MRF declares Rs 194 dividend

MRF, known as India's most expensive stock, made headlines on Friday by declaring a final dividend of Rs 194 per share for the financial year ending March 31, 2024. This announcement marks a shift from its recent trend of offering modest dividends of Rs 3 per share in the previous two financial periods. "The Board of Directors have recommended a final dividend of Rs 194 - (1940%) per share of Rs 10 each. The company has already declared and paid two interim dividends of Rs 3- (30%) each per share for the financial year ended March 31, 2024. The total dividend for the financial year ended 31 March 2024 works out to Rs 200 per share - (2000%) per share of Rs 10 each," said MRF.