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
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