With a yield of 3.45%, this industrial stock fixes record date for 100% dividend

Construction-related NCC Ltd is a small-cap company with a market valuation of ₹3,591.60 crore. The two groups of companies that are part of NCC Ltd. are NCC Urban and NCC Infra. The company is involved in developing significant infrastructure projects for the nation. NCC has announced an equity dividend of 100.00% at a face value of ₹2 or ₹2 per share for the fiscal year ending March 2022. The dividend yield at the current share price of ₹57.90 is 3.45 per cent. The company's Board of Directors has announced the record date for the purpose of dividend to determine the eligibility of the shareholders.

The company said in a stock exchange filing that “The Board of Directors at the meeting has recommended Dividend of Rs.2/- (100%) per share on the Equity Share of face value of Rs.2/- each, for the Financial Year 2021-22, subject to the approval of the Members at the ensuing Annual General Meeting. ln pursuance of the Regulation 42 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 201'5, we hereby inform you that the Company has fixed August 12, 2022 as the Record Date for determining the shareholders who are eligible for the Equity Dividend as recommended by the Board of Directors at its meeting held on May 11, 2022, subject to approval of the Members at the forthcoming Annual General Meeting.”

The shares of NCC Ltd closed today at ₹57.90 apiece, up by 2.93% from the previous close of ₹56.25. The stock has fallen 33.26% in the last 1 year and on a YTD basis, the stock has fallen 19.30% so far in 2022. In the last 6 months, the stock has fallen 22.80%, but the stock has surged 6.34% in the last 1 month. The stock had touched a 52-week-high of ₹90.40 on 05-August-21 and a 52-week-low of ₹52.20 on 20-June-22 which indicates that at the current share price of ₹57.90 the stock is trading 35.95% below the 52-week-high and 10.91% above the 52-week-low.