Midcap AMC Stock Recommends Final Dividend Of Rs 7.50/Share, Fixes Record Date; Details Inside

Nippon Life India Asset Management Company Ltd. (Nippon Life India AMC) on Tuesday, April 25, 2023, recommended Rs 7.50 per Equity share dividend for the financial year ended March 31, 2023. The Board of Directors of the company also fixes the record date for the recommended dividend as Friday, June 30, 2023.

Nippon Life India AMC is a financial services sector midcap stock. It is the asset manager of Nippon India Mutual Fund (NIMF), a well know Mutual Fund house. It has a market capitalisation of Rs 14,653.97 crore.

Dividend and Record Date

"The Board has also recommended a final dividend of Rs. 7.50/- per Equity Share of Rs. 10/- each for the financial year ended March 31, 2023, for the approval of the shareholders at the ensuing Annual General meeting. With this the total dividend for the financial year 2022-23 would be Rs. 11.50/-, including the interim dividend of Rs. 4.00 per equity share distributed in November 2022," Nippon India Asset Management Company in an exchange filing said.

It added, "The record date to determine those shareholders who will be eligible to receive the payment of final dividend, subject to shareholder's approval, will be Friday, June 30, 2023. The payment date for final dividend will be on and from July 19, 2023."

Current Share Price, Returns, & 52 Week Low/High

On NSE, shares of Nippon Life India AMC last trading price is Rs. 235.15 apiece as compared to the previous close of Rs. 234.55 apiece. The stock's 52 week low is Rs 196.90 apiece and 52-week high is Rs 334.50 apiece, respectively.

The stock delivered 1.22% negative return in a week and 14.% positive return in 1 month. It has given 25.9% negative return in 1 year. In 3 years it has given 8.66% positive return, In 5 years it has given 7.46% negative return.

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