SAIL Interim Dividend: Maharatna PSU stock Steel Authority of India Ltd (SAIL) has declared an interim dividend of Rs 1 per equity 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 the FY 2022-23 Rs l per equity share, that is 10 per cent on the paid up equity share capital of the company,” the company said in a filing.
The stock of SAIL last traded at Rs 85.30 apiece, falling 2.68 per cent as compared to its previous close. The stock recorded its 52 week low on 20 June 2022 at Rs 63.60 apiece and 52 week high on 11 April 2022 at Rs 112.35 apiece,
respectively.
It has fallen 2.79 per cent in 1 week, whereas, it gained 3.27 per cent in 3 months. The stock has fallen 12.24 per cent in 1 year. It gave a robust positive return, 213.03 per cent in 3 years. In 5 years, it gave 17.09 per cent positive return.
SAIL Record Date
The company has fixed March 24 as the record date to determine the eligibility of the shareholders for the said dividend payment.
The shares of SAIL will go ex-dividend a day or two days before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.
SAIL is one of the highest dividend paying stocks on the Street. In the past 12 months, the company has declared an equity dividend amounting to Rs 4.75 per share, which results in a dividend yield of about 5.57%.
SAIL is one of the largest steel-making companies in India. The company produces iron and steel at 5 integrated plants and 3 special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials.
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