Multibagger PSU stock to trade ex-dividend on Thursday

Shares of Rashtriya Chemicals and Fertilisers (RCF) will trade ex-dividend with respect to its final dividend of Rs 2.5 and interim dividend of Rs 1.6 per share on Thursday. The record date for the said dividends is December 16 i.e. investors' eligibility for the dividend will be decided based on their holdings in the stock as of the said date.

Shares of RCF traded over 1% higher at Rs 135.35 per share around 3 pm.

RCF commands a dividend yield of over 2%. For the previous fiscal year ending March 2022, the company declared a dividend of Rs 3.85 or 38.5%. Considering the current share price, it amounts to a dividend yield of 2.85%.

According to the Trendlyne data, the company since 2001 has declared a total of 26 dividends.

FII shareholding in the stock has increased consistently. It stood at 3.07% at the end of the September quarter as against 1.04% in the same quarter a year ago.

The PSU stock is a multibagger with a three-year return at 196%, while in the last one year, the stock has gained over 80%.

(RCFL) is a leading fertilizer and chemical manufacturing company with about 75% of its equity held by the Government of India. The company manufactures urea, complex fertilizers, bio-fertilizers, micro-nutrients, 100% water soluble fertilizers, soil conditioners and a wide range of industrial chemicals.