Board of Maharatna company SAIL fixes record date for final dividend
Premium- A large-cap company with a market worth of Rs. 30,211.62 crore, Steel Authority of India (SAIL) Ltd. is in the metal industry.
A large-cap company with a market worth of Rs. 30,211.62 crore, Steel Authority of India (SAIL) Ltd. is in the metal industry. One of India's largest producers of steel and a Maharatna among Central Public Sector Enterprises, Steel Authority of India Limited (SAIL) is primarily engaged in the production of iron and steel through its three special steel plants and five integrated plants, primarily in India's east and central regions of the country.
On Tuesday, the Board of the company said in an exchange filing that “This is in continuation of our intimation of even no. dated 23rd May, 2022, wherein it was intimated that the Board of Directors at its meeting held on 23rd May, 2022 have recommended the Final Dividend @ Rs. 2.25/- per equity share of Rs. 10/- each for the Financial Year 2021-22 (22.50% of the paid up equity share capital of the Company). Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the record date for determining the eligibility of the shareholders to receive the Final Dividend for the Financial Year 2021-22 has been fixed as Friday, 29th July, 2022. The Final dividend for FY 2021-22 as recommended by the Board, and if approved by the Shareholders in the ensuing Annual General Meeting (AGM) shall be paid (subject to TDS) within 30 days from the date of the approval by the shareholders."
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The price of SAIL's shares climbed 1.67 per cent and settled at Rs. 73.00 today, from its previous close of Rs. 71.80. The stock has dropped 40.58 per cent over the past year, and on a year-to-date basis, it has fallen 33.70 per cent so far in 2022. The stock has dropped 30.81 per cent over the past six months but has gained 12.48 per cent over the past month. On the NSE the stock had touched a 52-week-high of ₹145.90 on 30-July-21 and a 52-week-low of ₹63.60 on 20-June-22 which indicates that at the current share price of ₹73.00 SAIL is trading at 49.96% below the 52-week-high and 14.77% above the 52-week-low.
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