Last updated: March 17, 2023, 8:33 AM IST
SAIL Interim Dividend: Maharatna PSU share Steel Authority of India Ltd (SAIL) has announced an interim dividend of Rs 1 per share share for the current financial year 2022-23. “The Board of Directors, at its meeting held today, has approved the payment of interim dividend for fiscal year 2022-23 Rs l per share of shares, which is 10 per cent on the paid-up share capital of the company,” the company said in a statement.
SAIL’s stock last traded at Rs 85.30 a piece, down 2.68 percent from the previous close. The stock recorded its 52-week low on 20 June 2022 at Rs 63.60 per unit and 52-week low on 11 April 2022 at Rs 112.35 per unit.
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It’s down 2.79 percent in 1 week, while it’s up 3.27 percent in 3 months. The share has fallen by 12.24 percent in 1 year. It delivered a robust positive return, 213.03 percent in 3 years. In 5 years, it yielded a positive return of 17.09 percent.
SAIL registration date
The company has set March 24 as the record date to determine shareholders’ eligibility for said dividend payment.
SAIL’s shares go ex-dividend one day or two days before the record date. When a company goes ex-dividend on a certain date, the stock does not have the value of the next dividend payment. An ex-dividend date also determines which shareholders are eligible for the dividend payment.
SAIL is one of the stocks with the highest dividend payout on the street. In the past 12 months, the company has declared a stock dividend of Rs 4.75 per share, resulting in a dividend yield of around 5.57%.
SAIL is one of the largest steel producing companies in India. The company produces iron and steel in 5 integrated plants and 3 specialty steel plants, mainly located in the eastern and central regions of India and close to domestic sources of raw materials.
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