Nalco Dividend 2023 News: Record date fixed | Nalco share price NSE, BSE
State owned Nalco on Tuesday announced an interim dividend of Re 1 per share. The company has set January 27, as the record date. The payment of the interim dividend will be made on or before February 15, 2023.
The dividend announcement will fetch the government Rs 94.17 crore as it holds 51.28 percent stake in the company, as per its latest shareholding pattern. The total outstanding shares in this stake is 94.17 crore.
According to the recently released Public Enterprises Survey 2021-22, the total dividends declared by operating CPSEs in financial year 2021-22 stood at Rs 1.15 lakh crore, up 57.58 percent, compared to Rs 73 thousand crore in financial year 2020-2021.
In December 2022, the government received about Rs 6,113 crore and Rs 25 crore from Coal India Ltd. and MSTC respectively as dividend tranches, according to the Department of Investment and Public Asset Management (DIPAM).Nalco is a Navratna public sector undertaking under the Ministry of Mines. It has integrated and diversified operations in mining, metal and power.
In November last year, the government also received nearly Rs 5,001 as dividend tranches from ONGC.
According to the existing guidelines, Central PSUs are required to pay a minimum annual dividend of 30 percent of profit after tax (PAT) or 5 percent of net worth, whichever is higher.
Shares of Nalco ended 0.8 percent higher at Rs 84.35. In the past one month the stock has gained over 9 percent while in the three-month period the shares have given a return of 23 percent.
Share of NALCO traded in flat on D street. The counter opened at Rs 84.05 on NSE. At 11:37 AM, the counter quoted Rs 83.15, down by 0.60 per cent.
NALCO share Price History
In the past 6 months, NALCO shares have yielded around 13 per cent return to investors. The stock’s 52-week range is Rs 132.70 – Rs 66.95. At current levels, the company has a market cap of Rs 15.30 thousand crore.
With Thanks Reference to:https://www.livemint.com/market/stock-market-news/navratna-company-nalco-declares-interim-dividend-stock-ended-on-a-green-note-11673967898131.html
