Dividend drive turns automobile promoters richer by Rs 39 billion in FY18

The biggest dividend income in the sector is earned by Japan's Suzuki, which holds a 56% share in Maruti Suzuki

Promoters of the country’s top automobile companies are laughing all the way to the bank. Data shows that promoters of eight leading firms, including Maruti Suzuki, Bajaj Auto and Hero MotoCorp, earned a record dividend income of Rs 39 billion in FY18, an increase of 14 per cent over the previous year as businesses made more profits.

A higher dividend announcement following better financial performance is meant to reward shareholders. Promoters, who are often majority shareholders, end up gaining as well. The biggest dividend income in the sector is earned by Japan’s Suzuki, which holds a 56 per cent share in