Container Corporation Set To Offer 60% Dividend, Profit Increases 20% YoY

Container Corporation of India Ltd. announced a 2nd interim dividend of Rs. 3 per share (60%), and fixed the record date on November 23, 2022, after announcing the Q2 FY23 financial report. The company's current market price on NSE stood at Rs. 770 in trade today, on November 11, falling 4% in trade due to a stressed earning report.

The company "The Board has declared 2nd Interim Dividend for FY 2022-23 of 60%, that is Rs. 3.00 per equity share of face value of Rs. 5/- each amounting to Rs. 182.79 crores. The record date for the purpose of payment of Interim Dividend has been fixed as 23.11.2022. The Interim dividend will be paid/ dispatched to the shareholders on or after 30.11.2022. The payment of dividend will be made within 30 days of its declaration."

Additionally, the company reported a 19.9% gain in its consolidated profit at Rs. 303.80 crore in Q2 FY23, as the same was reported to be at Rs. 253.21 crore in Q2 FY22. But, Container Corporation's Revenue from operations stood at Rs. 1,970.68 crore, compared to Rs. 1,978.30 crore in the earlier quarter. Its Total Income stood at Rs. 2022.66 crore, which fell marginally from Rs. 2,041.20 crore in the previous quarter.

Stock performance

In the last 1 months the company's share price gained by 8.80%, in the past 6 months its share price gained by 29.59%, but in the last 1 year its share price has gained by 12.38%. The 52-week high level of this stock is Rs. 828.75, and the 52-week low level of this stock is Rs. 554. The large-cap company has a market capitalization of Rs. 46,909 crore.

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