Board of this Miniratna PSU company unveils record date for final dividend
- With a market worth of ₹1,903.26 crore, MSTC Ltd. is a small-cap company that operates in the trading industry
With a market worth of ₹1,903.26 crore, MSTC Ltd. is a small-cap company that operates in the trading industry. The Ministry of Steel, Government of India, has administrative authority for MSTC Limited, a Mini Ratna Category-I PSU. The firm is one of the top PSU entities delivering e-auction/e-sale, e-procurement services, and the development of specialized software/solutions for a variety of industrial segments. It is also a well-known operator in the trading of bulk raw materials.
To confirm 1st and 2nd Interim dividends paid @ Rs. 2.00 per share and Rs. 6.50 per share respectively on equity shares for the financial year 2021-22 and to declare final dividend @ 4.40 per share (44%) on equity shares for the financial year 2021-22, the fifty-seventh Annual General Meeting (“AGM”) of the Members of MSTC Limited will be held on Tuesday, September 27, 2022, at 11:00 A.M, said the Board of Directors in a regulatory filing.
They further said that “The Company has fixed Friday, 16th September 2022 as the 'Record Date' for determining entitlement of members to receive final dividend for the FY 2021-22. The final dividend for the financial year 2021-22, if declared at the 57th AGM, will be paid within the stipulated time, to all those members whose names appear on the Company's Register of Members / Beneficial Owners as at the closure of business hours on Friday, 16th September,2022 as the 'Record Date'. The final dividend, once approved by the members in the AGM, will be paid to the eligible shareholders within the stipulated period of 30 days of declaration.”
MSTC Ltd. shares ended trading on Friday at Rs. 269.45 a piece, a decline of 0.26% from the previous close of Rs. 270.15. In the last 5 years, the stock had delivered a multibagger return of 136.46% and in the last 3 years, it has given a multibagger return of 232.02%. In the last 1 year, the stock has gained 0.24% and on a YTD basis, the stock has fallen 19.40% so far in 2022. At the current market price the stock is trading above the 5 days, 10 days, 20 days, 50 days EMA but below the 100 days and 200 days Exponential Moving Average (EMA).
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