Adani Group Midcap Stock Recommends Rs 9.25/Share Dividend, Trading 10.71% Up 52-Week Low

ACC Ltd in their Board meeting held on April 27, 2023, recommended a dividend of Rs. 9.25 per equity share of Rs. 10 each for the financial year 2022-23. According to the company, the recommended dividend is subject to approval of the shareholders at the ensuing Annual General Meeting (AGM) of the company.

ACC is a Cement sector company having a market capitalisation of Rs 33,104.08 crore. It is a midcap stock of the Adani Group. The Company has manufacturing facilities across India and caters mainly to the domestic market.

Recommends Dividend

According to an exchange filing by the Board of Directors of ACC Ltd., "recommended payment of dividend of Rs. 9.25 (Rupees Nine and Twenty Five Paise Only) per Equity Share of Rs. 10/- each (fully paid-up) for the financial year ended March 31, 2023 and the same shall be payable subject to approval of the Shareholders at the ensuing Annual General Meeting ('AGM') of the Company. The dividend, as recommended by the Board of Directors, if approved at the AGM will be paid on or after 25th July 2023."

Stock Overview

On Friday, the stock of ACC closed at Rs 1,762.85 apiece on NSE, up 0.69% from its previous close of Rs 1750.85 apiece. The stock is trading 10.71% up 52 week low of Rs 1,592.35 apiece, recorded on 29 March 2023, wheile its 52-week high on 14 September 2022 at Rs 2,785 apiece, respectively.

The stock gave 2.61% positive return in 1 week, and 9.23% in 1 month, respectively. However, it declined 25.83% in 1 year. In 3 years it gave 56.49% positive return in 3 years and 13.03% positive return in 5 years, respectively.

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