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    Nalco mulls second interim dividend, sets record date

    Synopsis

    The second interim dividend will be paid to those shareholders whose names appear as beneficial owners at the end of business on 21 March as per the beneficial owners position to be downloaded by NSDL and CDSL in respect of the shares held in the electronic form and as members in the registrar of members of the company,the company said

    Nalco mulls second interim dividend, sets record dateIANS
    NALCO
    State-owned National Aluminium Company Ltd (Nalco) said its board will meet on March 12 to consider and approve the payment of a second interim dividend for the financial year 2022-23.

    "The Board of Directors of the company is scheduled to be held on Monday, the 13th March, 2023, inter‐alia to consider a second interim dividend, if any for the financial year 2022‐23," Nalco said in a filing.

    The company has fixed March 21 as the record date to determine the eligibility of shareholders in this regard.

    "The second interim dividend will be paid to those shareholders whose names appear as beneficial owners at the end of business on 21 March as per the beneficial owners position to be downloaded by NSDL and CDSL in respect of the shares held in the electronic form and as members in the registrar of members of the company," the company said.

    On Monday, Nalco stock closed 1.90% lower at Rs 82.60 apiece on the NSE. So far this year, the shares lost just over 1% on a year-to-date basis.

    Nalco has paid an equity dividend of Rs 2.5 in the last one year, which results in a dividend yield of 3.03%, if we take the current share price levels.

    According to Trendlyne data, the company has an average target of Rs 83.67 and the consensus estimate represents an upside of 1.48%.

    Nalco is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complexes in the country and the government holds about 51.28% stake in it.

    The state-owned company reported 61% quarter-on-quarter growth in net profit at Rs 274 crore, while sales stood at Rs 3,290 crore.

    The company has a 68.25 lakh TPA Bauxite Mine and 21.00 lakh TPA (normative capacity) alumina refinery in Odisha, and 4.60 lakh TPA Aluminium Smelter and 1200MW captive power plant in the same state



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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