Multibagger metal stock announces record date for ₹5 per share dividend

Market


With a market valuation of 2,439.30 crore, Sandur Manganese & Iron Ores Ltd. is a small cap company that engages in the mining and metal sector. One of India’s most prominent, varied, and integrated commodity producers is the firm. Mining, ferro alloy, power, beneficiation of manganese, iron ore, solar power, and hospitality are all included in the company’s business portfolio. Potential investors should take notice of the record date that the firm has set for the purpose of the final dividend.

The Board of Directors of the company have said in a regulatory filing that “This is to inform that the Record Date for the purpose of Final Dividend of Rs. 5/- per equity share of Rs. 10/- each (50%) for the year ended 31 March 2022 is fixed as Wednesday, 21 September 2022. The Final Dividend once approved by the Members in the ensuing 68th Annual General Meeting of the Company, shall be paid within 30 days from the date of approval.”

The shares of Sandur Manganese & Iron Ores Ltd ended today’s trading session on the NSE at 905.00 a piece, up 0.87% from yesterday’s close of 897.20. A multibagger return and an all-time high of 6,323.00% have been achieved by the stock price, which soared from 14.09 on May 9th, 2005 to the present market price. An investment of 1 lakh made 17 years ago in the stock would now have become 64.23 lakhs. In the last 5 years, the stock has generated a multibagger return of 221.97% which also results in a CAGR of 26.35% approx. In the last 1 year, the stock has gained 39.69% and on a YTD basis, the stock has gained 7.98% so far in 2022. The stock had touched a 52-week-high of 1,700.13 on (12/04/2022) and a 52-week-low of 537.76 on (21/09/2021) indicating that at the current market price the stock is trading 46.76% below the high and 68.29% above the low.

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