Amitabh Bachchan's granddaughter Navya Naveli Nanda will get ₹3.24 lakh as dividends as tractor manufacturer Escorts Kubota announced a dividend for the financial year.
What Happened: Escorts Kubota announced a dividend of ₹18 per share of the company as they announced their results for the March quarter. Navya Naveli Nanda who has 18,000 shares in the company will get ₹3.24 lakh as a total dividend payment. Bachchan's grandson Agastya Nanda will get ₹1.8 lakh as he has 10,000 shares in the company.
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Nikhil Nanda, Navya's father is the Chairman and Managing Director of Escorts Kubota. Nikhil married Shweta Bachchan, the daughter of Amitabh Bachchan and Jaya Bachchan in 1997.
Nikhil Nanda owns 12.03 lakh shares in the company, resulting in him taking home a dividend payout of ₹2.16 crore. Shweta Nanda has 17,000 shares, making her dividend earnings at ₹3.06 lakh.
In their March quarter results, Escorts Kubota reported a net profit of ₹251.9 crore, up by 16% from the previous year. However, its revenue fell to ₹2093.5 crore from ₹2214.5 crore in the previous year. Despite the fall in revenue, the brokerages were upbeat on the company as it guided a better outlook for its export segments.
Price Action: Escorts Kubota stock closed 3.04% up at ₹3550 on Friday.
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