NALCO Dividend 2024 Record Date, Share Price, History

News: The National Aluminium Company Limited (NALCO), a prominent public sector undertaking (PSU) in India, has recently announced its dividend plans for the year 2024. In this article, we’ll delve into the details of NALCO’s dividend, including the record date, share price, and historical context.

Dividend Announcement

NALCO has declared a second interim dividend for the financial year 2023-24. Shareholders will receive Rs 2 per share as part of this dividend payout1. This move reflects the company’s commitment to rewarding its investors.

Record Date

The record date for the second interim dividend is set for February 23rd, 2024. If you own NALCO shares on or before this date, you’ll be eligible to receive the dividend. It’s essential for investors to mark this date on their calendars to ensure they don’t miss out on the dividend payment.

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Share Price and Historical Context

Let’s take a closer look at NALCO’s financial performance:

Revenue: In the third quarter of FY24, NALCO reported revenue of Rs 3,347 crore, representing a 2% year-on-year (YoY) growth and a 10% quarter-on-quarter (QoQ) growth. This exceeded both our estimates and market consensus.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): NALCO’s EBITDA stood at Rs 773 crore, showing a remarkable 68% YoY increase and an impressive 95% QoQ surge. Lower raw material costs, reduced power and fuel expenses, and controlled employee costs contributed to this strong performance.

Dividend History: Over the years, NALCO has consistently rewarded its shareholders. In the past 12 months, the company declared an equity dividend of ₹4.50 per share. At the current share price of ₹157.50, NALCO’s dividend yield stands at 2.86%2.

Investment Perspective

Considering NALCO’s positive financial indicators and its commitment to shareholder value, analysts at Axis Securities have revised their rating from ‘Hold’ to ‘Buy’ on the stock. The target price of ₹160 per share implies an upside of 13% from the current market price1. Investors looking for stable returns and exposure to the aluminum sector may find NALCO an attractive investment option.

In conclusion, NALCO’s dividend announcement and robust financial performance make it a stock worth considering for long-term investors. Remember to mark February 23rd, 2024, on your calendar if you’re a NALCO shareholder!

FAQs

Q: When is the Record Date scheduled for NALCO’s 2024 dividend?

A: The Record Date for NALCO’s 2024 dividend has been scheduled for February 23rd, 2024.

Q: What is the value of the 2nd Interim Dividend?

A: The 2nd Interim Dividend stands at ₹2 per equity share.

Q: Who qualifies to receive the dividend?

A: Shareholders holding NALCO shares on or prior to the Record Date are eligible to receive the dividend.

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