SAIL Dividend 2024 Record Date, Share Price, History

News: Steel Authority of India Limited (SAIL), one of the largest steel producers in India, has recently announced its third-quarter results for the fiscal year 2023-24. In addition to the financial performance, SAIL has also declared an interim dividend for its shareholders. Let’s delve into the details of this dividend, including the record date, share price impact, and historical dividend payouts.

Company Background

• Inception: SAIL was incorporated on January 24, 1973.
• Ownership: The Government of India holds approximately 65% of SAIL’s equity, ensuring voting control over the company.
• Employee Strength: SAIL boasts a dedicated workforce of over 57,000 employees.

SAIL’s Interim Dividend

• Dividend Amount: SAIL has announced a dividend of Re 1 per equity share of Rs 10 each. This translates to 10% of the paid-up equity share capital of the company.
• Record Date: The company has fixed February 20 as the record date for the purpose of identifying eligible shareholders. If you own SAIL shares on or before this date, you will be eligible to receive the dividend.
• Payment Date: As of now, the payment date for the interim dividend has not been officially announced.

Historical Dividend Payouts

Before this interim dividend, SAIL has consistently rewarded its shareholders over the years. Here’s a glimpse of the dividend history:

Recent Financial Performance

In the third quarter of FY23, SAIL reported a consolidated net profit of Rs 422.92 crore, which is a 22% decline compared to the same period last year. Lower income during this quarter contributed to the decrease in profit. The company’s total income fell to Rs 23,492.33 crore in Q3 FY24 from Rs 25,140.16 crore a year ago.

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Share Price Impact

Following the dividend announcement, SAIL’s stock experienced some volatility. The share price opened at Rs 119 and fell by 5.32% to reach a day’s low of Rs 116.35.

SAIL’s interim dividend provides a boost to its shareholders amidst challenging market conditions. Investors should keep an eye on the payment date and stay informed about the company’s financial performance. As always, consult with financial experts before making any investment decisions.

Manufacturing Facilities

SAIL operates five integrated steel plants and three special steel plants across India. These facilities are strategically located near domestic sources of raw materials. Let’s take a closer look at these plants:

Integrated Steel Plants:

1. Bhilai Steel Plant (Chhattisgarh):
   • Produces rails, long rails, blooms, billets, slabs, TMT rebars, and more.
2. Durgapur Steel Plant (West Bengal):
   • Manufactures blooms, billets, joists, narrow slabs, TMT rebars, wheels, and axles.
3. Rourkela Steel Plant (Odisha):
   • Specializes in plate mill products, HR coils, CR sheets, ERW pipes, and more.
4. Bokaro Steel Plant (Jharkhand):
   • Produces HR coils, slabs, HR sheets, CR coils, and galvanealed steel.
5. IISCO Steel Plant (West Bengal):
   • Offers wire rods, bars, rebars, joists, channels, and more.

Special Steel Plants:

1. Salem Steel Plant (Tamil Nadu):
   • Focuses on cold-rolled stainless steel and hot-rolled carbon/stainless steel products.
2. Alloy Steels Plant (West Bengal):
   • Specializes in alloy steel squares, rounds, wear-resistant plates, and more.
3. Visvesvaraya Iron & Steel Plant (Karnataka):
   • Known for high-quality rolled and forged alloy and special steel products.

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FAQs about SAIL Dividend

1. When is the day to mark in your calendar for SAIL’s 2024 dividend?

Circle February 20th, 2024, as the Record Date for SAIL’s 2024 dividend.

2. What’s the cash you get for each share with the 2nd Interim Dividend in the Financial Year 2023-24?

Get ₹1 for every equity share with the 2nd Interim Dividend in the Financial Year 2023-24.

3. What can we learn about SAIL’s money matters from its dividend history?

Look at SAIL’s dividend history, and you’ll see its strong finances. The regular payouts tell us the company is solid and making profits, keeping its promise to reward shareholders.