MSTC Ltd Dividend 2024 Record Date, Share Price, History

News: MSTC Ltd, a prominent player in the Indian market, has recently declared its dividend for the year 2024. In this article, we’ll delve into the details of MSTC’s dividend, including the record date, share price, and a brief historical overview.

MSTC: A Brief Overview

MSTC Ltd (BSE: 542597, NSE: MSTCLTD) is a government-owned company that specializes in e-commerce, trading, and recycling services. Established in 1964, MSTC has played a crucial role in various sectors, including metal scrap trading, e-auctions, and more.

Dividend Declaration

For the fiscal year ending March 2023, MSTC has announced an equity dividend of 150.00%, amounting to Rs 15 per share. This means that for every share you hold, you’ll receive Rs 15 as a dividend.

Recent Dividend Announcement

On February 8, 2024, MSTC declared a dividend of Rs 5.0 per share with a record date of February 20, 2024. The record date is crucial because it determines which shareholders are eligible to receive the dividend. If you own MSTC shares on or before the record date, you’ll be entitled to the dividend.

Historical Dividends

Let’s take a quick look at MSTC’s dividend history:

1. November 2023: Interim dividend of 55%, amounting to Rs 5.50 per share.
2. May 2023: Final dividend of 32%, equivalent to Rs 3.20 per share.
3. February 2023: Interim dividend of 63%, totaling Rs 6.30 per share.

Share Price and Dividend Yield

As of now, MSTC’s share price stands at Rs 884.00. Considering the recent dividend announcement of Rs 5.0 per share, the dividend yield can be calculated as follows:

Dividend Yield = (Dividend per Share / Share Price) × 100 Dividend Yield = (5.0 / 884.00) × 100 ≈ 0.57%

About MSTC Company

MSTC Limited, a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India, has been a significant player in various sectors. Let’s explore more about this dynamic company.

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Company Overview

• Name: MSTC Limited (formerly known as Metal Scrap Trade Corporation Limited)
• Established: September 9, 1964
• Investment at Inception: Rs 6 lakh
• Corporate Office: Kolkata, West Bengal
• Branch Offices: Spread across various cities

Diverse Services

MSTC is involved in a range of services:

1. E-Commerce: MSTC provides e-auction, e-procurement, and other online platforms for seamless transactions.
2. Marketing Services: The company procures industrial raw materials in bulk for its principals. These materials include HMS, HR Coil, Billets, Wire Rods, LAM Coke, Coking coal, Naphtha, and more, primarily consumed by the steel industry in India.
3. Scrap Recovery: MSTC offers a virtual marketplace for domestic sellers and buyers to engage in metal scrap (ferrous/non-ferrous) transactions. This includes surplus stores, machinery, obsolete spares, vehicles, and even entire plants.
4. Tender Services: MSTC facilitates open tenders, public auctions, and e-auctions.

Recent Developments

• MSTC recently declared a dividend of Rs 5.0 per share with a record date of February 20, 2024. Shareholders who own MSTC shares on or before this date will be eligible to receive the dividend.
• The company has a rich dividend history, including interim and final dividends in previous fiscal years.

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