572.50% Dividend: Multibagger PSU Mining Stock To Trade Ex-Dividend For Rs 11.45/Share Dividend

Small cap public sector undertaking, Gujarat Mineral Development Corporation shares will trade ex-dividend tomorrow for Rs 11.45 per share dividend having face value of Rs 2.00 each. The company on August 17 made an upward revision in its dividend from Rs 9.10 per share to 11.45 per share. Current market price of Gujarat Mineral stock on BSE is Rs 285.85 apiece after the decline of 0.73% at 10:23 am on Thursday. Gujarat Mineral shares offered 112% return in last 6 months. Check details below:

Gujarat Mineral Recommended Upward Revision Of Dividend on August 17: As per the BSE filing of Gujarat Mineral dated August 17, "With reference to the subject mentioned above, I am directed to inform that the Board of Directors of Gujarat Mineral Development Corporation Ltd, in its meeting held on 17th August, 2023, has decided to upwardly revise the dividend for FY 2022-23 to Rs. 11.45 per share having face value of Rs. 2.00 each, as against dividend of Rs. 9.10 recommended earlier on 30.05.2023. Accordingly the dividend for the FY 2022-23 stands revised as mentioned above."

Gujarat Mineral Stock Outlook & Return: Current market price of Gujarat Mineral share is Rs 285.85 apiece on BSE. Its 52-week high price is Rs 301.85 per share and 52-week low price is Rs 122.75 per share, respectively. Its market capitalisation is Rs 9204.51 crore. The company has been debt-free for the last 5-years. Gujarat Mineral shares offered attractive returns to investors over the years. In last 1-months, Gujarat Mineral stock soared 59%, gained 69% in last 3-months, jumped 91% in last 1-year, rallied 338% in last 2-years, and offered shareholders return of 573% in last 3-years.

Gujarat Mineral Financials: The debt-free company for the quarter ended June 30, 2023 announced its quarterly net profit at Rs 215.53 crore, down 37.51% as against Rs 344.90 crore in June 2022. Its EBITDA stood at Rs 307.84 crore in June 2023, down 36.98% as against Rs 488.49 crore in June 2022. The company's EPS declined to Rs 6.78 in June 2023 from Rs 10.85 in June 2022.

About: Gujarat Mineral Development Corporation Limited, a government of Gujarat enterprise was incorporated with the objective to develop major mineral resources in the Gujarat. In 1970, GMDC started commencing mining of lignite in Kutch district of Gujarat. By the early 70's the industrialization of Gujarat was on a rapid pace, which enforced heavy quantities of fuel to sustain the growth. - GMDC had ranked 112th in terms of excellence in business performance in the list of top manufacturing companies in India accumulated by Industry 2.0 and Investment Research and Information Services Ltd (IRIS).

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