The board of directors of tyre giant MRF has recommended a final dividend of Rs 19 per share for 2012, taking the aggregate dividend for the current year to Rs 25 as two interim dividends of Rs 3 each had been paid earlier in the year.

The board recommended the final dividend despite the company's net profit for the full financial year slipped nearly 8 per cent to Rs 572 crore, from Rs 619 crore in the previous year.

For its fourth quarter, which ended September 30, the company reported a decline of 58 per cent in net profit to Rs 164 crore. However, total income jumped 14 per cent to settle at Rs 2,993 crore in the same quarter.

In the full financial year, total income from operations climbed 22 per cent to settle at Rs 11,870 crore.

Exports for the twelve months through September 30 also jumped considerably, from Rs 823 crore the previous year to Rs 1,280 crore this year.

The Chennai-based company held a number of factors, such as fluctuations in the prices of raw material, higher prices of power and fuel and depreciation of the Indian currency, responsible for its sluggish performance in the year.

Following the announcement of the dividend, share in MRF gained 4.79 per cent to close at Rs 10,526.20 apiece.