NMDC Declares First Interim Dividend of Rs 5.75 per Share for FY 2023-24

The National Mineral Development Corporation Ltd (NMDC), India's leading iron ore producer, has declared its first interim dividend for the financial year 2023-24. Following a board of directors' meeting, the state-run company announced a dividend of Rs 5.75 per equity share, each with a face value of Re 1.

Dividend Announcement Details

NMDC's board communicated through a regulatory filing that shareholders are to receive a first interim dividend amounting to Rs 5.75 per share. This decision aligns with the company's history of rewarding its investors through dividends.

Record Date for Dividend Eligibility

Furthermore, the company established February 27, 2024, as the record date for determining which shareholders will be eligible for this payout.

NMDC's Previous Dividend Payouts

In a retrospective look at the company's dividend payouts, NMDC has consistently provided dividends to its shareholders, with the previous final dividend being Rs 2.85 announced in August.

Impact on NMDC's Share Price

On the back of this announcement, NMDC's share price saw a positive uptick, closing higher by 3.88 percent at Rs 235.50, indicating investor confidence in the company's performance and dividend policy.

Financial Performance in Q3

NMDC reported a robust increase in standalone net profit for the third quarter of the fiscal year 2024, with a 67.7 percent rise compared to the same period the previous year, outperforming analysts' expectations.

dividend, record, interim