NMDC Ltd and Indian Railway Finance Corporation Ltd (IRFC) are two PSUs that have announced interim dividends for the financial year 20204-2025. Mishra Dhatu Nigam Ltd and REC Ltd boards would be considering interim dividends for FY25 tomorrow. Power Grid shares will turn ex-dividend on Wednesday, as per data available with stock exchange BSE.
In the case of NMDC, the board of India's largest producer of iron ore declared its first interim dividend for FY25 at Rs 2.30 per share. The record date for the same is set at Friday, March 21.
NMDC said the dividend would be paid 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 or records of depositories as beneficial owners of the equity shares as on March 21. The actual dividend will be paid on April 16. This stock had turned ex-bonus in 2:1 ratio in December. NMDC paid a total dividend of Rs 7.25 per share worth Rs 1,685.11 crore in FY24, Rs 5.91 dividend in FY23 (Rs 1,098.98 crore) and Rs 14.74 per share dividend (Rs 1,474 crore) in FY22. The dividend yield styed in 3.6-9 per cent range.
Earlier, IRFC announced Re 0.80 per share as its second interim dividend for the financial year. The record date for the same is Friday, March 21 and the actual dividend will be paid on April 16. The PSU announced a similar dividend earlier.
IRFC paid a total dividend of Rs 1.50 per share worth Rs 1,045.48 crore in FY24 and a similar dividend in FY23. It paid Rs 1,006.28 crore (Rs 1.40 per share dividend) worth dividends in FY22 . The dividend yield styed in 6-9 per cent range.
Shares of Power Finance Corporation Ltd will turn ex-date for dividend on Wednesday, March 19. This PSU had announced an interim dividend of Rs 3.5 per share and the actual dividend will be paid on April 11.
Defence PSU Mishra Dhatu Nigam Ltd will be declaring interim dividend on Wednesday, March 19. The stock will be turning ex-date for dividend on March 25, if the dividend is announced.