This 4th largest cement company of India finalizes record date for dividend

Market


A mid-cap company with a market valuation of 23,363 crore that operates in the cement industry is Dalmia Bharat Ltd. With a 35.9 MTPA capacity and a production base spanning 10 states, the firm is the fourth-largest cement player in India. A broad variety of cement varieties are offered by the firm through three recognisable brands: Dalmia Cement, Dalmia DSP, and Konark Cement. By 2030, the company expects to have a 130 MTPA cement production capacity and be a pan-Indian cement manufacturer.

Dalmia Bharat has announced an equity dividend of 250.00% at a face value of 2, or 5 per share, for the fiscal year ending March 2022. This provides a dividend yield of 0.40 per cent at the current share price of 1240.90. The company has a solid dividend track record and, starting in 2019, has routinely issued dividends for the previous five years to its shareholders.

For the purpose of dividend the company on 8th June 2022 has announced a record date. The company has said in BSE exchange filing that “Pursuant to Regulation 42 of SEBI Listing Regulations, this is to inform you that the record date / cut-off date for the purposes of dividend is Saturday, June 25, 2022.”

The stock has dropped 31.99 per cent over the past year, and on a year-to-date (YTD) basis, it has fallen 34.06 per cent so far in 2022. The stock has plummeted 32.81 per cent over the past six months, and during the past month, it has lost another 9.24 per cent. The stock has dropped 4.07 per cent over the past five trading days. Today, the price of the stock reached an intraday low of 1216.35, down 3.26 per cent, and ended the day at 1,240.95, down 1.37 per cent from its previous close of 1258.20. Dalmia Bharat Ltd. shares on the NSE reached a 52-week high of 2,548.40 on September 14, 2021, and a 52-week low of 1,212.50 on June 20, 2022. This means that at the stock’s current price of 1,240.95, it is trading at a discount of 51.30 per cent from its 52-week high and is away 2.34 per cent from its 52-week low. Dalmia Bharat Ltd is trading below the 5 days, 20 days, 50-day, 100 days, and 200-day moving averages according to the last traded price.

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