NMDC announces Rs 9 per share dividend; record date fixed at December 14

Board of directors of National Mineral Development Corporation (NMDC) Ltd has announced the first interim dividend the current financial year for shareholders. The NMDC Board has announced an interim dividend of Rs 9.01 per share i.e 6.20% on current market price of Rs 145, said Yash Gupta, Equity Research Analyst, Angel One Ltd.  

"The company in its board meeting has fixed the record date of 15th December 2021 for the interim dividend of Rs 9.01 per share, so the company will get ex-dividend on 14th December 2021. This will be the first dividend by NMDC Limited in the current financial year," said Yash Gupta.  
Between February 2011 and December 2021, the NMDC Ltd has announced dividend 22times, showed details with Stock Edge, an app to anlyse NSE, BSE data.

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Earlier, the company in a BSE filing informed about the decision taken in the company's board meeting, held on December 3.  

"The Board of Directors of the Company at its meeting held on 3rd December 2021, inter-alia, fixed Wednesday the 15th December 2021, as the record date for the purpose of payment of interim dividend at the rate of Rs.9.01 ps. (Rupees Nine and One Paise Only) per equity share of face value of Re. 1/- each for the financial year 2021-22," the BSE filing read.  

Shares of NMDC were trading flat with negative bias. Around 1:15 pm, NMDC stocks were trading at RS 144.60 per share, down Rs 1.55 or 1.06% on BSE in Monday's intraday trade.  

As per Stock Edge, shares of the government-owned mineral producer have surged 35.5% in one year as on December 6, 2021. However, the stocks yielded negative return of 25% in six months.  

Incorporated in 1958 as a Government of India fully owned public enterprise. NMDC is under the administrative control of the Ministry of Steel, Government of India.

NMDC is India's single largest iron ore producer, presently producing about 35 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State), read information at its official website.