Goodyear India drops ex-dividend

Goodyear India lost 1.6% to Rs 411 at 9:52 IST as the stock turned ex-dividend today, 30 April 2014, for dividend of Rs 9 per share for the year ended 31 December 2013.

Meanwhile, the S&P BSE Sensex was up 171.97 points or 0.77% at 22,638.16.

On BSE, so far 1,648 shares were traded in the counter as against average daily volume of 16,000 shares in the past two weeks.

The stock hit a high of Rs 414.50 and a low of Rs 408 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 2.15% based on the closing price of Rs 417.70 on Tuesday, 29 April 2014.

Goodyear India's net profit jumped 71.3% to Rs 27.60 crore on 5.9% growth in net sales to Rs 404.83 crore in Q4 December 2013 over Q4 December 2012.

Goodyear India manufactures tyres. In the passenger car segment, the company supplies tyres to many of the leading original equipment manufacturers. Goodyear India has been a pioneer in introducing tubeless radial tyres in this segment. In the farm segment in India, Goodyear tyres are supplied to all the major tractor companies.

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