GMDC Dividend 2023: State-run mining major revises dividend - Check details

GMDC Dividend 2023 News: State-run mining major Gujarat Mineral Development Corporation Ltd (GMDC) has revised its dividend payout for the fiscal year 2022-23. The decision to make an upward revision was taken during a meeting held on Thursday i.e. August 17, 2023.

GMDC Dividend 2023

The board of Gujarat Mineral Development Corporation has revised the dividend amount to Rs 11.45 per share having a face value of Rs 2 each. Earlier, the board had fixed a dividend of Rs 9.10 per share.

"The board has decided to upwardly revise the dividend for FY 2022-23 to Rs. 11.45 per share having face value of Rs. 2.00 each, as against dividend of Rs. 9.10 recommended earlier on 30.05.2023," the company said on an exchange filing.

GMDC Dividend 2023: Record date

The company has not made any announcement regarding the record date for the said dividend.

Shares of the company will trade ex-dividend on the day or a day before the record date fixed by the company. The ex-dividend date is important as it helps companies decide on eligible shareholders for the dividend. If someone buys a stock on its ex-dividend or after, the person will not be eligible to receive the dividend. In order to be eligible to get the dividend, one must purchase before the ex-dividend date.
Earlier, the company had announced a dividend of Rs 4.30 per share for which the ex-date was September 22, 2022.

Meanwhile, shares of Gujarat Mineral Development Corporation Limited were up by around 2.84 per cent to trade at Rs 182.85 at around 11:45 am. The scrip had settled at Rs 177.80 on NSE a day before.  

In the last five days, the share has given a positive return of around 4.5 per cent. So far this year, the share has gone up by Rs 27.40.