Authored by : Kumar Gaurav Updated May 28, 2024 | 01:24 PM IST At the current market price, NMDC stock has a dividend yield of 2.51 per cent.
NMDC, in an exchange filing, stated that its board of directors has recommended a final dividend of 150 per cent per share for FY 2023-24.
The company has not yet fixed the record to determine the participation of shareholder for the payment of final dividend.
NMDC Dividend YieldAt the current market price, NMDC stock has a dividend yield of 2.51 per cent.
BSE data reflects that the company paid an interim dividend of Rs 3.75 and a final dividend of Rs 2.85 in 2023.
Authored by : Kumar Gaurav Updated May 28, 2024 | 01:24 PM IST At the current market price, NMDC stock has a dividend yield of 2.51 per cent. (Image: NMDC/ET Now News)
NMDC Dividend 2024 Announcement: Iron ore producer, Navratna Company, under the administrative control of the Ministry of Steel, National Mineral Development Corporation (NMDC), has announced a reward for its shareholders for FY24. NMDC, in an exchange filing, stated that its board of directors has recommended a final dividend of 150 per cent per share for FY 2023-24. The company has also announced its financial results for the quarter and year ended on March 31, 2024.
NMDC Q4 2024 Results
NMDC’s net profit dropped 37.8 per cent year-on-year to Rs 1,412.7 crore in the quarter under review, as against Rs 2,271.5 crore reported in the corresponding quarter of FY23.
The company's revenue from operations jumped 10.9 per cent year-on-year to Rs 6,489.3 crore in Q4 FY24 as against Rs 5,851.4 crore in Q4 FY23.
NMDC Dividend 2024
NMDC, in an exchange filing, has stated that its board of directors has recommended a final dividend of Rs 2.11 on each stock having a face value of Rs 1 to its shareholders. The said dividend payout, however, remains to be approved at the ensuing Annual General Meeting of the company. The dividend will be paid to shareholders, subject to their eligibility on the record date.
“Recommended the payment of Final Dividend of Rs. 1.50 (Rupee One and fifty paise only) per share on the face value of Rs. 1/- each for the financial year 2023-24, subject to approval of the shareholders in the ensuing Annual General Meeting (AGM),” NMDC said in an exchange filing on the BSE.
This is in addition to the interim dividend of Rs 5.75 per equity share already declared and paid during the financial year. The said final dividend, if declared at the ensuing AGM, will be paid to the shareholders within 30 days from the date of the AGM, the company said in a regulatory filing.
The company has not yet fixed the record to determine the participation of shareholder for the payment of final dividend.
NMDC Dividend Yield
At the current market price, NMDC stock has a dividend yield of 2.51 per cent.
NMDC Dividend History
The Navratna company has a rich history of paying dividends to its shareholders. BSE data reflects that the company paid an interim dividend of Rs 3.75 and a final dividend of Rs 2.85 in 2023. In 2022, NMDC paid an interim dividend of Rs 7.73 to its shareholders.
NMDC Share Price History
The state-run company is a constituent of the S&P BSE 500 index. According to BSE analytics, NMDC stock has advanced 16.72 per cent in the last three months and 43.17 per cent in the last six months.
Shares of NMDC have emerged as a multibagger in the last year with a rally of 144.25 per cent during the said period.
The PSU stock has increased 155.10 per cent in the last two years and 212.14 per cent in the last five years, according to BSE data.
Shares of NMDC have a 52-week range of Rs 286.35 - 103.85 on the BSE.
