New Delhi, May 22: In an apparent bid to create a conducive environment for its proposed public offer, auto major Maurti Udyog today announced a 30 per cent dividend for the year 2002-03 within a day of declaring a hefty 40 per cent growth in net profit. The total outgo of Rs 42.7 crore would be on account dividend of Rs 1.50 per equity share of five rupee each, a company statement said here. MUL had declared a dividend of 30 per cent for 2001-02 as well.
The car market leader posted a 40 per cent higher profits at Rs 146.4 crore yesterday for the year 2002-03 which was largely attributed to aggressive cost cutting measures and enhanced productivity. Bureau Report