Rs 87,500 Crore M-Cap Stock Declares 450% Interim Dividend for FY23: Do You Own?

  • Investing.com
  • Stock Market News
Rs 87,500 Crore M-Cap Stock Declares 450% Interim Dividend for FY23: Do You Own?

By Malvika Gurung

Investing.com -- Shree Cement (NS: SHCM ) declared an interim dividend of 450% for the financial year 2022-23 while releasing its earnings for the December-ended quarter.

The cement major’s Board of Directors declared an Interim Dividend of Rs 45/share of the company having a face value of Rs 10 each for the fiscal year ending on March 31, 2023.

The Kolkata-based company’s Board has set the record date for determining the shareholders eligible for the interim dividend as Thursday, February 16, 2023.

The dividend will be paid to eligible shareholders of the company from Wednesday, March 1, 2023.

In the preceding financial year 2021-22, Shree Cement declared an interim dividend of Rs 45/share, and the total dividend paid out in FY22 aggregated to Rs 90/share.

The large-cap company having an m-cap of Rs 87,459 crore, stated while releasing its Q3 earnings that it has been actively working towards achieving the goal of having 80 million tonnes capacity by the year 2030.

In Q3 FY23, Shree Cement’s PAT fell by 44% YoY to Rs 277 crore, led by persistently high fuel and input costs during the period, thanks to the Russia-Ukraine war weighing on the cement sector.

Its margin contracted significantly to 17.4% in the December quarter from 23.2% in the year-ago period.

Read More: Shree Cement Q3: PAT Tanks 44%, EBITDA Slides, QoQ Numbers Surge

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles