State-owned Steel Authority of India (SAIL) has approved an interim dividend of ₹2.5 per share for the current financial year 2021-22, according to an exchange filing.
The Board of Directors at its meeting held today i.e. 16 March, 2022, has inter-alia, approved the payment of 2nd Interim Dividend for the FY 2021-22 at Rs.2.5 per equity share (25% on the paid up equity share capital, SAIL said.
The company has fixed 29 March as the record date for the purpose of payment of second interim dividend.
On Wednesday, SAIL shares closed 2.27% higher at ₹97.05 apiece on NSE.
The PSU stock has dropped nearly 12% in 2022 (year-to-date or YTD) so far, while it is up 34% in last one year. Steel Authority of India is a government owned steel producer based in Delhi.
SAIL reported a 12% rise in its standalone net profit at ₹1,443 crore for the December quarter, helped by higher income. Revenue from operations, meanwhile rose, 27% to ₹25,246 crore for the third quarter.
