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Business News/ Markets / Stock Markets/  RCF declares interim dividend. Check record date
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RCF declares interim dividend. Check record date

Rashtriya Chemicals and Fertilisers notified that it has fixed 16 December as the record date for payment of Interim Dividend

Photo: BloombergPremium
Photo: Bloomberg

Rashtriya Chemicals and Fertilizers Limited on Tuesday informed that its board of directors has approved the payment of interim dividend of 1.60 per equity share for the financial year 2022-23 and has also fixed record date for the same. The PSU stock was trading about 0.4% lower at 122 apiece on the BSE in afternoon deals.

“The Board of Directors of the Company has approved payment of Interim Dividend for the financial year 2022-23 @ 16.00% (i.e.Rs.1.60 per Equity Share) on the paid up equity share capital of the Company," RCF said.

The company further notified that it has fixed Friday, 16th December, 2022 as the record date for the purpose of the eligibility of shareholders for payment of Interim Dividend for the financial year 2022-23. 

Rashtriya Chemicals and Fertilizers Limited (RCFL) is a leading fertilizers and chemicals manufacturing company with about 75% of its equity held by the Government of India. 

It has two operating units, one at Trombay in Mumbai and the other at Thal, Raigad district. RCF manufactures Urea, Complex Fertilizers, Bio-fertilizers, Micro-nutrients, water soluble fertilizers, soil conditioners and a wide range of Industrial Chemicals.

Last week, Bloomberg reported that the government is looking to sell 5%-10% in Coal India Ltd., Hindustan Zinc Ltd., Rashtriya Chemicals and Fertilizers Ltd. via the so-called offer for sale (OFS) mechanism. 

The state-run company recently signed a long-term agreement with the subsidiary of a German firm for import of 1,05,000 tonnes of Muriate of Potash (MoP) per annum in the next five years. The memorandum of understanding (MoU) was signed on October 6 between RCF and K Plus S Middle East FZE DMCC, which is the subsidiary of German firm K S Minerals and Agriculture GmbH.

As per the agreement, K plus S will supply 1,05,000 tonnes of MoP per annum for the period 2022 to 2025 at a discounted India specific price, an official statement said. The MoP will be supplied to RCF for its captive consumption as well as for trading purposes. This quantity will fulfil 60 per cent of captive consumption requirement of RCF, it said.

 

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Published: 29 Nov 2022, 12:36 PM IST
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