Yield 5.63%: 2 Big Multibagger PSUs Set To Consider Dividend Soon, Key Dates Inside; Buy?

Board of Directors of two leading public sector undertakings (PSUs) will soon hold meeting to consider financial results and dividend. These two companies are Coal India Ltd and Gujarat State Fertilizers & Chemicals. Board of Maharatna Coal India will hold meeting on May 2 while Board of Gujarat State Fertilizers & Chemicals will meet on May 21 to approve financial results and recommend dividend, if any. Coal India share offered traders return of 119% in last 2-years and Gujarat State Fertilizers & Chemicals shares zoomed 152% in last 3-years. More details below:

1. Coal India will Consider Financial Results & Final Dividend: According to the BSE filing of the company dated April 17, 2024, "meeting of Board of Directors of the company will be held on Thursday, the 2nd May'2024 inter-alia to consider, approve and take on record Audited Financial Results of the Company (Standalone & Consolidated) for the 4th quarter and year ended 31st Mar' 2024 after the results are reviewed by the Audit Committee of the Board. Further, pursuant to Regulation 29(1) of the Listing Regulations 2015, notice is also given that Board of Directors of the company may also, inter alia, consider recommendation of Final Dividend for FY 2023-24, if any subject to approval of shareholders in the ensuing AGM."

CIL's Capex Up 6.5% To Highest Rs.19,840 Crores In FY 2024: Coal India's (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 Crores ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 Crores in the preceding fiscal year.

Coal India Dividend History: Coal India announced 26 dividends since February 18, 2011. In last 12 months, Coal India announced an equity dividend amounting to Rs 24.50 per share. At the current share price of Rs 435.25 per share, Coal India offers a dividend yield of 5.63%.

Buy Coal India Share: Morgan Stanley has assigned buy call to Coal India share with target price of Rs 480 per share while Jefferies has assigned buy call to the large cap PSU with price target of Rs 520 apiece.

Coal India Share Performance: The 52-week high price of Coal India share on BSE is Rs 487.75 per share (as on 16/02/2024) and 52-week low price is Rs 223.30 per share (as on 26/06/2023), respectively. Coal India has a market capitalisation of Rs 2,68,232.75 crore. Coal India shares rallied 88% in last 1-year and soared 249% in last 3-years. Coal India stock soared 73% in last 5-years.

2. Gujarat State Fertilizers To Consider Results, Dividend, if any: Mid cap Gujarat government owned fertilizer company Gujarat State Fertilizers & Chemicals Ltd will hold its meeting of Board of Directors on May 21, 2024 to consider and approve financial results and recommend dividend, if any. Gujarat State Fertilizers share price on BSE is Rs 222.65 per share as on April 19, 2024. GSFC shares offered traders attractive returns of 78% in last 1-year span only and 151% in last 3-years.

Gujarat State Fertilizers To Consider Financial Results, Dividend: As per the regulatory filing of the GSFC dated April 19, "This is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 21't of May ,2024 to consider and approve the Audited Financial Results for the quarter and year ended 3l't March,2024 and recommendation of Dividend, if any on the Equity Shares of the Company for the Financial Year 2023-24."

Gujarat State Fertilizers Shares Peformance & Return: The 52-week high price of Gujarat State Fertilizers shares on BSE is Rs 322.45 apiece (as on 23/01/2024) and 52-week low price is Rs 122.20 per share (as on 21/04/2023), respectively. The company's market capitalisation stood at Rs 8872.10 crore. Gujarat State Fertilizers shares fell 7.88% in last 2-weeks, declined over 25% in last 3-months, offered return of 78% in last 1-year, and rallied 114% in last 5-years. In last 10-years, Gujarat State Fertilizers stock surged 297%.

Gujarat State Fertilizers Dividend History: Gujarat State Fertilizer & Chemicals announced 23 dividends since Aug 29, 2001. In last 12 months, Gujarat State Fertilizer & Chemicals announced an equity dividend amounting to Rs 10.00 per share. At the current share price of Rs 222.65, Gujarat State Fertilizer & Chemicals offers dividend yield is 4.49%.

Disclaimer: The stocks has been picked from the brokerage report of Jefferies and Morgan Stanley. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.