Midcap Chemicals Stock With 355% Return In 3 Yrs Recommends Rs 30/Share Dividend, Check Details

Chemicals sector midcap firm Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC) in their Board meeting held on Thursday, May 18, 2023, recommends a dividend of Rs. 30/share of Rs. 10 each fully paid up i.e. 300% for the financial year ended 31st March 2023. The dividend is subject to approval by the shareholders of the company at the Annual General Meeting. It has a market capitalisation of Rs. 9,361.65 crore.

Recommends Dividend Of Rs. 30/share

"The Board of Directors has in the said Meeting recommended a Dividend of Rs. 30/- per equity share of Rs. 10/- each Fully Paid Up (@ 300%) for the Financial Year ended 31st March, 2023, subject to approval of Shareholders at the ensuing Annual General Meeting. Upon approval by the Shareholders, the dividend declared will be paid within 30 days of declaration and the date of payment of dividend will be intimated in due course," the company said in an exchange filing.

Stock Outlook & Performance

On NSE, the sock last traded at Rs. 602.35/share, down 8% from its previous close of Rs. 654.75/share. The stock's 52 week high is Rs. 798.50/share and 52 week low is Rs. 484.45/share, respectively.
The stock has fallen 3.38% in the past 1 week, however, it jumped 11% in 1 month. It has fallen 5.72% in 1 year. In 3 years, it has fallen 355.12% positive return. In 5 years, it has fallen 22.39% positive return.

About - Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC)

Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC), is a joint-sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals Ltd. (GSFC). It was set up in Bharuch, Gujarat in 1976. Located at Bharuch in an extremely prosperous industrial belt, GNFC draws on the resources of the natural wealth of the land as well as the industrially rich reserves of the area.

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