Photo: Pradeep Gaur/MintMumbai/New Delhi: Suzuki Motor Corp.’s India unit will pay a record dividend after the country’s top-selling automaker posted its highest-ever net income, buoyed by the sale of more expensive models. Maruti Suzuki India Ltd. will more than double the dividend per share it will pay for the year through March to Rs75 ($1.2), up from Rs35 a year earlier. Maruti is also reaping the rewards of a decision in 2015 to start a chain of premium showrooms to sell higher-end models. Shares of Maruti fell 0.5% to Rs6,374.05 in Mumbai, compared with a 0.3% decline in the benchmark S&P BSE Sensex Index. For Suzuki, which owns 56.2% of Maruti, the record dividend comes after its acrimonious split with Volkswagen AG in 2015.

Source: Mint April 27, 2017 08:54 UTC