Bajaj Auto Modifies Dividend Payout, Linking It To Cash Levels: Motilal Oswal
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Motilal Oswal Report
Bajaj Auto Ltd.’s board has approved a new dividend policy that links dividend payout to the level of cash/cash equivalents, in turn increasing the payout to 90% of profit after tax (against 50% payout in the old policy). Considering -
- strong operating cashflows,
- limited avenues to deploy cash on the books, and
- declining yields on treasure, this is a step in the right direction and could lead to a rerating.
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