NMDC Share Price: Shares of NMDC Ltd surged nearly 3 per cent on the NSE in early trade on March 18. The stock was in demand after the company declared an interim dividend on March 17.
NMDC shares gained 2.97 per cent to hit an intraday high of Rs 66.84 apiece on the NSE. The stock surged after the company informed the exchanges on March 17 that its board of directors declared an interim dividend of Rs 2.3 per share with a face value of Re 1 per share. A dividend is a monetary reward which companies pay to eligible shareholders, this in turn can potentially attract investors and create demand for the company’s stock.
“The Board of Directors of the Company in its meeting held on Monday, 17th March 2025 inter-alia declared 1st Interim Dividend @ Rs 2.30 (Rupees Two and thirty paise only) per equity share of face value of Re 1/- each for the financial year 2024-25,” NMDC said.
The company also said in the filing that the dividend will be paid to those shareholders as per the prescribed timelines. Companies that declare dividends are required to pay or post dividend warrants within 30 days from the date of dividend declaration. Additionally, the company has set March 21 as the record date for determining the eligibility of shareholders for the payment of dividends.
“The said Interim Dividend shall be paid/dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members/records of Depositories as beneficial owners of the equity shares as on Friday, the 21st March 2025, which is the Record Date fixed for the purpose,” NMDC said.
Notably, shareholders who have shares of a company in their demat account on the record date and have purchased the shares prior to the ex-dividend date are considered eligible for the payment of dividends.
NMDC Dividend History
The dividend declared by the company on March 17 is the first dividend for the current fiscal (Financial Year 2024-25). In the past five years, the company has consistently declared dividends for eligible shareholders. Earlier in 2024, the company declared a final dividend of Rs 1.5 per share on May 27 and on February 14 for an interim dividend of Rs 5.75 per share.
NMDC Share Price History
In a year shares of NMDC Ltd have traded higher by 0.31 per cent on the NSE. On a Year-to-Date (YTD) basis, the stock has traded flat with a positive bias, up by 0.12 per cent. In six months the stock has fallen over 6 per cent and in a month the company’s shares have gained 4 per cent. In five days the stock has traded higher by over 2 per cent.
At the time of writing, NMDC shares traded higher by 2 per cent at Rs 66.2 per share on the NSE.
