1 Miniratna PSU Stock, 1 IT Stock All Set To Pay Final Dividend

One Miniratna company namely RailTel Corporation of India Limited and one-small-cap IT Industry stock Magellanic Cloud Ltd are all set to pay final dividend to their shareholders as the boards of both the company have approved final dividend. Check key details below:

1. RailTel Corporation Board Recommends Final Dividend

The board of Railtel Corporation has recommended final dividend and fixed record date for the same. The board of directors of the company in their BSE filing said, "The Board of Directors of the Company at its meeting held on July 09, 2022 has recommended a Final Dividend at the rate of 6.5% of paid-up share capital (Rs. 0.65/- per share) for the financial year 2021-22. This Final Dividend is in addition to Interim Dividend of Rs. 1.75/- per share already paid by the Company for the financial year 2021-22. The Final Dividend is subject to approval of shareholders in the ensuing Annual General Meeting (AGM). The Final Dividend would be paid within 30 days from the date of its declaration at the AGM."

In 2021, Railtel had declared an equity dividend 12% or Rs 1.20 per share and an interim dividend of 10% or Rs 1 per share.

RailTel Corporation Company Overview: RailTel Corporation a "Mini Ratna (Category-I)" PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. It has a market capitalization of Rs 3007 crore at the time of writing the story.

RailTel Corporation Stock Outlook: The current market price of the stock is Rs 93.70 apiece. Its 52-week high is Rs 164.60 apiece and 52-week low is Rs 84.00. Currently, it is trading at a discount of 43% from its highs. The company has registered rising net cash flow and cash from operating activity. It has a dividend yield of 1.87 crore. The PE of the stock is 14.44 while the sector PE is 14.27.

2. Magellanic Cloud Ltd Board Recommends Final Dividend

Magellanic Cloud Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 07, 2022 has recommend a final Dividend of Rs. 0.50 (i.e. 5% on face value) per Equity share of face value of Rs. 10/- each fully paid-up of the Company for the financial year ended March 31, 2022.

The company has also re-appointed of Mr. Jagan Mohan Reddy Thumma as the Managing Director for a further period of 5 years, subject to members approval at ensuing Annual General Meeting.

Company Overview: Magellanic Cloud works in the Digital space and is listed on the Bombay Stock Exchange with the ticker MCLOUD. It connects technology and their implementation processes worldwide. Magellanic Cloud is represented by multiple brands with office locations in Europe, USA and Asia. It delivers a wide scope of solutions anywhere in the world, according to its official website. The company has a market capitalization of Rs 985 crore.

Stock Outlook: The current market price of the stock is Rs 350.80 apiece. The 52-week high is Rs 448 apiece and 52-week low is Rs 37.25 apiece. Currently, the stock is trading at a discount of 22% from its highs. The PE of the stock is 33.44 which is higher than sector PE of 32.84. The stock has registered strong EPS growth and highest recovery from 52-week low.

Multibagger Returns: The stock consistently giving multibagger returns with 6-month return of 264%, 1-year return of 323%, and 5-year return of 774%.

Disclaimer

The above is the list of stocks that have declared final dividend. Readers should not construe the story for investment advice into the mentioned stocks.