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NLC India board OKs interim dividend for FY22

NLC India said that its board has declared an interim dividend of Rs 1.50 per equity share for the financial year 2021-22.

March 08, 2022 9:20 IST | capital market

At yesterdays closing price of Rs 63.85, the dividend translates to a dividend yield of 2.35%.

The company had fixed 15 March 2022 as the record date for the purpose of ascertaining the members for entitlement of the said interim dividend.

The dividend shall be paid to shareholders on or before 05 April 2022.

NLC India, a Navratna public sector undertaking (PSU), operates lignite mines and thermal power stations in Neyveli, Tamil Nadu, and Barsingsar, Rajasthan.

The companys consolidated net profit rose 35.03% to Rs 231.14 crore on a 23.34% rise in sales to Rs 2731.79 crore in Q3 FY22 over Q3 FY21.

The scrip shed 0.94% to currently trade at Rs 63.25 on the BSE.

In the past six months, the stock has gained 20.38% while the benchmark Sensex has fallen 9.62% during the same period.

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