Diversified Sector Midcap Stock Recommends 180% Final Dividend, In 3 Yrs Soars 197.95%

Diversified sector stock, DCM Shriram Ltd. in their Board meeting held on Tuesday, May 02, 2023, recommended a final dividend of 180% i.e. Rs. 3.60 per equity share of the face value of Rs. 2 each for the financial year 2022-23. The dividend is subject to approval by shareholders at the upcoming AGM, scheduled on 25th July 2023, according to an exchange filing. It is a midcap stock with a market valuation of Rs. 12,746.72 crores.

Recommended Final Dividend Of 180%

"recommended final dividend of 180% i.e. Rs. 3.60 per Equity Share of face value of Rs. 2/- each for the financial year ended 31.3.2023 and therefore, if the same is declared by shareholders at the forthcoming AGM, the total dividend for the Financial Year 2022-23 aggregates to 700% i.e. Rs.14/- per equity share of Rs. 2/- each (including interim dividends @ 230% i.e. Rs.4.60 per equity share of Rs. 2/- and @ 290% i.e. Rs.5.80/- per equity share of Rs. 2/- each declared in the October, 2022 and January, 2023 respectively)," the company said in an exchange filing.

It added, "the above dividend, if declared by the Shareholders at the ensuing Annual General Meeting (AGM), will be credited/dispatched within 30 days from the date of AGM. decided to hold 34th AGM of the Company on 25th July 2023."

Stock Overview

The stock's current market price is Rs 819.35/share, up 0.24% from its previous close. The stock has given 1.19% positive return in the past 1 week, and 9.63% in the past 1 month, respectively. However, it has fallen 5.35% in the past 1 year. It has given 197.95% positive return in the past 3 years and 161.52% in the past 5 years, respectively.

About - DCM Shriram Ltd.

DCM Shriram Ltd. is a leading business conglomerate with a group turnover of Rs. 9,849 crores. The business portfolio of DCM Shriram comprises primarily of Agri-Rural Business, Chlor-Vinyl Business, and Value Added business. DCM Shriram, a spin-off from the trifurcation of the reputed erstwhile DCM Group in 1990, is managed by Mr Ajay S. Shriram, Chairman & Senior Managing Director, Mr Vikram S. Shriram, Vice Chairman & Managing Director and Mr Ajit. S. Shriram, Joint Managing Director along with a highly professional executive team.

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