Dividend news: PSU alloy maker declares 16.8% dividend — check out record date, payout amount

Dividend news: Mishra Dhatu Nigam on Wednesday declared an interim dividend of Re 1.68 per share for the financial year ending March 2023 — a third payout since March last year, and 10th since the listing of the manufacturer of specialised metals and alloys in 2018.

Mishra Dhatu Nigam (MIDHANI) shares finished with a gain of Rs 2 — or one per cent — at Rs 195 apiece on BSE, having risen as much as 2.6 per cent to Rs 198 apiece during the session. 

The board of Mishra Dhatu Nigam — a PSU — met on Wednesday to consider the dividend.

Mishra Dhatu Nigam dividend: Amount

 The latest payout is on a face value of Rs 10, translating into a 16.8 per cent dividend. 

Mishra Dhatu Nigam dividend: Record date

The company had earlier announced a record date of March 23 for any such dividend. 

What is a record date?

A record date is the date that determines the shareholders eligible to benefit from corporate action such as a dividend payout. 

So what does the Mishra Dhatu Nigam record date mean for investors?

Simply put, investors holding Mishra Dhatu Nigam shares on March 23 will be eligible to receive any such dividend.  

Here's a look at the company's dividend announcements since 2018:

Mishra Dhatu Nigam past dividends

Dividend payout: What is an ex-date?

An ex-date is the date on which a security trades on the bourse without the benefit of corporate action such as a dividend payout. 

What does Mishra Dhatu Nigam do?

Mishra Dhatu Nigam is a PSU under the administrative control of the Department of Defence Production under the defence ministry. It is the sole producer of titanium in India.

The company is one of the leading manufacturers of special steels and superalloys, catering to niche end-user segments such as defence, space and power.

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