NMDC dividend 2024: PSU stock trades ex-date today

NMDC dividend 2024: Shares of state-run iron ore producer National Mineral Development Corporation (NMDC) traded ex-dividend on Tuesday, February 27. The Navratna public sector undertaking (PSU) announced a 575 per cent payout, or Rs 5.75 per equity dividend of the face value of Re 1 for the fiscal year 2023–24.

NMDC in a filing dated February 14 read, "Board in the said meeting also declared 1st Interim Dividend @ ₹ 5.75 (Rupees five and seventy-five paise only) per equity share of the face value of Re.1/- each for the financial year 2023-24."

NMDC dividend 2024 record date

NMDC's board has set February 27 as the record date for the payment of the interim dividend.

NMDC dividend payment date 2024

The said interim dividend shall be paid within the prescribed timelines, according to the company's filing.

"The said interim dividend shall be paid/dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the company whose names appear in the Register of Members/records of depositories as beneficial owners of the equity shares as of Tuesday, February 27, 2024, which is the record date fixed for the purpose," the filing added.

NMDC Q3 results: How did it perform in the Oct-Dec quarter?

NMDC reported a standalone net profit of Rs 1,492.7 crore for the October-December period (Q3 FY24), an increase of 67.7 per cent compared with the corresponding period a year ago, which was better than analysts' expectations.

The PSU's revenue grew to Rs 5,409.9 crore for the fiscal third quarter from Rs 3,720 crore a year ago, according to a regulatory filing.

NMDC shares: Past performance

As of February 27, NMDC shares have rewarded investors with a return of over 100 per cent in the past 12 months, outperforming the headline Nifty50 index, which rose 27 per cent during the period.

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.