Debt-Free Shipping Co Set To Pay Rs 3.60/Share Dividend, Shares Rise Over 7% Today

Board of mid cap company operating in shipping sector Gujarat Pipavav Port Ltd on Wednesday approved an interim dividend of Rs 3.60 per share for the financial year 2023-24. Last trading price of Gujarat Pipavav share on BSE is Rs 134.20 per share. Gujarat Pipavav shares offered return of 29% YTD and soared 51% in last 1-year. The company declared its consolidated net profit for the quarter ended September 30, 2023 at Rs 92.2 crore from Rs 72.1 crore declared in the corresponding quarter of last year. Check details below:

Gujarat Pipavav Declares Interim Dividend: As per the BSE filing of the Gujarat Pipavav issued on November 8, 2023, "Further, the Board of Directors have approved payment of Interim Dividend of Rs. 3.60 per share for the financial year 2023-24 and it is subject to applicable taxes. The Board has approved Tuesday 21st November 2023 as the Record Date to determine the Members eligible for receiving the Dividend amount. The dividend amount is likely to be paid to the eligible Members by Tuesday 5th December 2023."

Gujarat Pipavav Stock Performance & Return: Current market price of Gujarat Pipavav share on BSE is Rs 134.20 with intraday rally of over 7% today. The stock's 52-week high price is Rs 142.70 per share and 52-week low price is Rs 85.50 per share, respectively. The company's market capitalisation is Rs 6475.68 crore at the time of writing the story. Gujarat Pipavav shares soared 10% each in last 1-week and last 2-weeks. In last 6-months, Gujarat Pipavav shares jumped 16%, soared 16% in last 2-years, and offered return of 49% in last 3-years. In last 10-years, Gujarat Pipavav shares gained 136%.

Gujarat Pipavav Port was incorporated on August 5, 1992 to build, construct, operate and maintain the port at Pipavav, District Amreli, in Gujarat. It was initially promoted as a joint venture between GMB and Seaking Engineers (now SKIL Infrastructure). Gujarat Pipavav is the developer and operator of APM Terminals Pipavav, India's first private sector port, which has multi-cargo and multi-user operations. Gujarat Pipavav has exclusive right to develop and operate APM Terminals Pipavav and related facilities until September 2028 pursuant to the Concession Agreement with GMB and the Government of Gujarat (GoG).

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