Hero MotoCorp, the largest two wheeler maker of the country has declared an interim dividend of Rs 40 per equity share for the financial year ending March 31.

Hero MotoCorp Ltd has said in a BSE filing that “The Board of Directors of the company at its meeting held on March 10, 2016 has approved and declared the interim dividend at the rate of 2,000 per cent i.e. Rs 40 per equity share of Rs 2 each for the financial year ending March 31, 2016.”

The company has reported a 13.6 percent increase in sales at 5,50,992 units in February as compared to 4,84,769 units in February last year.

Read EquityPandit’s Technical Analysis on Nifty Auto