Rs 2.20/Share Dividend: Tata Stock Set To Go Ex-Dividend In 3-Days, How To Be Eligible?

Board Of Directors of small cap Tata Group company NELCO Ltd. on April 23 recommended a final dividend of Rs 2.20/share. This was the highest ever dividend that the company declared since 2001. Current market price of NELCO share on BSE is Rs 727.50 per share with intraday gain of 1.23%. The company on May 21, 2024 fixed June 10, 2024 as the record date. NELCO shares offered 193% return in last 3-years and 2.21% in last 1-year. Check key details below:

NELCO Sets Record Date For Dividend: As per the regulatory filing of NELCO dated May 21, 2024, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 as amended from time to time, the Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, 11th June 2024 to Monday, 17th June 2024 (both days inclusive) for taking record of the Members of the Company for the purpose of payment of dividend subject to tax deducted at source, if declared by the Members at the Annual General Meeting of the Company to be held on Tuesday, 25th June 2024." The company fixed June 10, 2024 as the record date for dividend.

NELCO Q4 Results: The company declared a surge of 7.77% in its net profit to Rs 6.10 crore for the quarter ended March 2024 as compared to Rs 5.66 crore reported in the corresponding quarter of last year. Sales declined marginally by 0.45% to Rs 81.61 crore for the quarter ended March 2024 as compared to Rs 81.98 crore declared in the similar quarter of last year. For full year, NELCO announced its net profit zoomed 19.24% to Rs 23.67 crore for the year ended March 2024 as compared to Rs 19.85 crore last year ended March 2023. Sales jumped 2.22% to Rs 320.30 crore for the year ended March 2024 as against Rs 313.33 crore from March 2023.

NELCO Dividend: According to the BSE filing of NELCO dated April 23, 2024, "We would like to inform that the Board of Directors has recommended a final dividend of Rs. 2.20/- per share (22%) (face value of Rs. 10 each) for the financial year ended 31st March 2024 subject to the approval of the shareholders at the ensuing Annual General Meeting."

NELCO Share Performance & Return: The 52-week high price of NELCO share on BSE is Rs 894.00 per share (as on 13/07/2023) and 52-week low price is Rs 647.65 per share (as on 4/06/2024), respectively. NELCO has a market capitlisation of Rs 1,660.04 crore. NELCO shares fell over 9% year-to-date, gave return of over 6% in last 2-eyars, and surged 146% in last 5-years. In last 10-years, NELCO stock surged 1179%.

About: Nelco, a part of US $ 116 Bn Tata group, started in 1940 as a revolutionary electronics company and has had many firsts to its name over the years. The Company has aligned its businesses and has set new goals for itself. Nelco is focused on helping its enterprise & government customers unlock potential by offering solutions in the areas of VSAT connectivity, Satcom Projects and Integrated Security & Surveillance Solutions. To address the needs of our customers across industry verticals, these solutions are backed by Nelco's values and proven expertise in consulting, customization, system integration, end-to-end management, as well as robust infrastructure and processes, according to its official website.

Disclaimer:

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