Defence PSU stock jumps 7% ahead of board meet to consider dividend. Do you own?

Mishra Dhatu Nigam share price jumped over 7% in early trade on Wednesday ahead of the company’s board meeting to consider the issue of dividend. The PSU defence stock rallied as much as 7.71% to ₹282.80 apiece on the BSE.

The board of directors of Mishra Dhatu Nigam Ltd, the state-run defence company, will meet today, March 19, to consider an interim dividend for FY25.

“This is to inform that a Meeting of the Board of Directors of the Company has been rescheduled to be held on Wednesday, the 19th March, 2025 to inter alia consider a proposal relating to declaration of Interim Dividend for FY 2024-25,” Mishra Dhatu Nigam Ltd said in a regulatory filing on March 12.

Earlier, the meeting of the company’s board of directors was scheduled for March 20. However, the company revised the date of meeting and the board will meet today.

Mishra Dhatu Nigam Dividend Record Date

The company has fixed Mishra Dhatu Nigam dividend record date as on March 25. Mishra Dhatu Nigam shares will trade ex-dividend from March 25.

“The revised ‘Record date’ for entitlement for aforesaid Interim Dividend, if declared by the Board will be Tuesday, the 25th March, 2025,” the company said.

Mishra Dhatu Nigam Dividend History

Mishra Dhatu Nigam issued its last dividend in March 2024. The company had issued an interim dividend of ₹1.41 per share on 22 March 2024. It had issued a Final Dividend of ₹1.67 per share on September 22, 2023.

Mishra Dhatu Nigam Ltd issued an Interim Dividend of ₹1.68 per share on 23 March 2023 and a Final Dividend of ₹1.54 on 21 September 2022.

Mishra Dhatu Nigam Stock Price Trend

Mishra Dhatu Nigam shares have gained over 5% in one month, but the defence PSU stock has declined 18% on a year-to-date (YTD) basis. Over the past one year, Mishra Dhatu Nigam share price has dropped 22%, while it has rallied 48% in two years.

At 9:55 AM, Mishra Dhatu Nigam shares were trading 6.09% higher at ₹278.55 apiece on the BSE. 

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