In its board meet today (December 3, 2021), the mining and minerals PSU company has announced an interim dividend for the Fy 22. As per the filing with the exchanges, the company said, "The Board or Directors of the Company at its meeting held on 3rd December 2021, inter-alia, declared interim dividend at the rate of Rs.9.01 ps. (Rupees Nine and One Paiise Only) per equity share of face value at Re. l /- each for the financial year 2021- 22. The interim dividend shall be paid/ dispatched to the Shareholders of the Company as per the provisions of the Companies Act. 2013".
Record date for the interim dividend pay-out for Fy 2022
For the announced dividend, the company has also decided the record date and fixed it as Wednesday the 15th December 2021. The record date is the date when the company finds out or determines the eligibility of the shareholders who will be entitled to receive this dividend pay-out. On this record date, you or a shareholder must be having shares of this company in his demat account for the dividend payment to be credited against these shares in due time.
Rs. 9.01/share dividend pay-out soon by this company
If you could not still make it out, the company we are talking about is NMDC or NationalNational Mineral Development Corporation. The divestment in this PSU major kicked off in July this year via the OFS or auction route. In the stake sale, the centre looked at selling 7.49 percent stake in the firm.
To know about other companies to pay-out dividend soon read here.
About NMDC and its dividend history
Incorporated in 1958 as a Government of India fully-owned public enterprise, NMDC is under the administrative control of the Ministry of Steel. Since inception, the company is into the exploration of an array of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc. The company is the country's single largest iron ore producer. Talking about its scrip, the company commands a share price of Rs. 145.95 and has a market capitalisation of Rs. 42,772 crore.
The company has been consistently making dividend pay-outs and considering the last fiscal year's dividend of 7.76 per share, the dividend yield turns out to be 5.32 percent which is quite impressive.
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Note we are just putting before readers a stock that has announced a dividend, nonetheless readers should not misread it as a call for investment into the scrip.