Millat Tractors (KAR:MTL) Dividend Payout Ratio: 1.31 (As of Mar. 2026) — 22% Above Median

What is Millat Tractors Dividend Payout Ratio?

Millat Tractors KAR:MTL +0.25% 79 Dividend Payout Ratio is 1.31 as of Mar. 2026, which is 22% above its 10-year median of 1.07. GuruFocus rates KAR:MTL with a GF Score™ of 79/100 and a GF Value™ of ₨211.58 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 123 Farm & Heavy Construction Machinery companies, Millat Tractors ranks worse than 87.8% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Millat Tractors's Dividend Payout Ratio for the months ended in Mar. 2026 was 1.31.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Millat Tractors Ltd is 0.95, which seems too high.

The historical rank and industry rank for Millat Tractors's Dividend Payout Ratio or its related term are showing as below:

KAR:MTL' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.67 Med: 1.07 Max: 1.45
Current: 0.95

During the past 13 years, the highest Dividend Payout Ratio of Millat Tractors was 1.45. The lowest was 0.67. And the median was 1.07.

KAR:MTL's Dividend Payout Ratio is ranked worse than
87.8% of 123 companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 0.4 vs KAR:MTL: 0.95

As of today (2026-07-07), the Dividend Yield % of Millat Tractors is 5.77%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Millat Tractors was 15.96%. The lowest was 2.96%. And the median was 7.23%.

Millat Tractors's Dividends per Share for the months ended in Mar. 2026 was ₨10.00.

During the past 12 months, Millat Tractors's average Dividends Per Share Growth Rate was -22.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 7.30% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 22.10% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 13.10% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Millat Tractors was 38.70% per year. The lowest was -9.10% per year. And the median was 11.90% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Millat Tractors (KAR:MTL) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Millat Tractors Dividend Payout Ratio Related Terms

Millat Tractors Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Millat Tractors's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Millat Tractors Dividend Payout Ratio Chart

Millat Tractors Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Dividend Payout Ratio

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0.67

1.31

1.10

0.76

1.45

Millat Tractors Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															6.55	0.00	0.00	1.25	1.31

KAR:MTL vs CAT, DE, PCAR: Dividend Payout Ratio Comparison

For the Farm & Heavy Construction Machinery subindustry, Millat Tractors's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Millat Tractors Dividend Payout Ratio vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Millat Tractors's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Millat Tractors's Dividend Payout Ratio falls into.

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79GF Score

Millat Tractors Ltd KAR:MTL

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Millat Tractors Dividend Payout Ratio Calculation

Millat Tractors's Dividend Payout Ratio for the fiscal year that ended in Jun. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Jun. 2025 )	/	EPS without NRI (A: Jun. 2025 )
	=	22.5	/	15.551
	=	1.45

Millat Tractors's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	10	/	7.66
	=	1.31

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 1.31 mean?

Millat Tractors (KAR:MTL) has a Dividend Payout Ratio of 1.31 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Millat Tractors and its competitors. This is 22% above median its historical median of 1.07. Over the past decade, Millat Tractors' Dividend Payout Ratio has ranged from 0.67 to 1.45. According to the industry distribution chart, Millat Tractors ranks #108 out of 123 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 87.8%.

Is Millat Tractors' Dividend Payout Ratio too high?

Millat Tractors' current Dividend Payout Ratio of 1.31 is 22% above median its 10-year median of 1.07. Over the past 10 years, this metric has ranged from a low of 0.67 to a high of 1.45. The Farm & Heavy Construction Machinery industry median Dividend Payout Ratio is 0.40. Millat Tractors' value of 1.31 is 227.5% above this industry median. Based on the distribution chart, Millat Tractors ranks #108 out of 123 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Millat Tractors has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Millat Tractors' Dividend Payout Ratio compare to CAT and DE?

According to the Farm & Heavy Construction Machinery industry distribution chart, Millat Tractors ranks #108 out of 123 companies for Dividend Payout Ratio. This places Millat Tractors in the lower half of its industry. The industry median Dividend Payout Ratio is 0.40. Millat Tractors' value of 1.31 is 227.5% above this benchmark. Historically, Millat Tractors' own Dividend Payout Ratio has ranged from 0.67 to 1.45 over the past decade. While the company's 10-year median is 1.07 vs. the industry median of 0.40, Millat Tractors has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a Farm & Heavy Construction Machinery company?

The median Dividend Payout Ratio among Farm & Heavy Construction Machinery companies is 0.40, based on 123 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Millat Tractors's current Dividend Payout Ratio of 1.31 is 227.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Millat Tractors and its competitors. For the Farm & Heavy Construction Machinery industry, the median Dividend Payout Ratio is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Millat Tractors's current Dividend Payout Ratio is 1.31, which is 22% above median its own 10-year median of 1.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Millat Tractors stock overvalued right now?

Based on GuruFocus' analysis, Millat Tractors (KAR:MTL) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨211.58, compared to a current price of ₨303.29 — trading 43.3% above its estimated fair value. The current Dividend Payout Ratio is 1.31, which is 22% above median its 10-year median of 1.07 and 227.5% above the Farm & Heavy Construction Machinery industry median of 0.40. Millat Tractors' overall GF Score™ is 79/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Millat Tractors (KAR:MTL), the current Dividend Payout Ratio is 1.31 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Millat Tractors (KAR:MTL) Overvalued in 2026?

Based on GuruFocus' analysis, Millat Tractors stock appears to be overvalued. The current stock price of ₨303.29 is trading 43.3% above its estimated GF Value™ of ₨211.58. GuruFocus considers Millat Tractors to be Significantly Overvalued.

Key valuation signals for KAR:MTL:

Dividend Payout Ratio: 1.31 (22% above median its 10-year median of 1.07)
GF Value™: ₨211.58 vs. price of ₨303.29 (43.3% above fair value)
GF Score™: 79/100 with 6 warning signs
Industry Position: 227.5% above the Farm & Heavy Construction Machinery median (#108 of 123)

No single metric tells the full story. See the KAR:MTL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Millat Tractors Business Description

Industry Industrials Farm & Heavy Construction Machinery

Comparable Companies KAR:AGTL KAR:HINO CAT DE OSTO:VOLV B PCAR XTER:DTG TSE:6301 OSTO:EPI A SHSE:600031 TSE:6326 XAMS:EXO SZSE:000425 HKSE:03808 OHEL:METSO CNH BOM:500477 OSK SZSE:000157 SHSE:600066

Address 9-KM Sheikhupura Road, Shahdara, P.O Box No. 12023, District Sheikhupura, Lahore, PAK

Website https://www.millat.com.pk

Millat Tractors Ltd operates in the automobile sector. It is engaged in assembling and manufacturing of agricultural tractors, implements and multi-application products. The Company is also involved in the sale, implementation and support of IFS applications in Pakistan and abroad. The company's operating segment includes Tractors; Tractor components; Castings and Others. It generates maximum revenue from the Tractors segment. The tractor components segment is engaged in the business of manufacturing automotive, agricultural and industrial vehicle parts and components.

79GF Score

Get the complete analysis for KAR:MTL

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₨303.29

Price

₨211.58

GF Value

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