Buy This Large-Cap Cement Stock For 450% Dividend, Record Date Announced, Stock Near 52-Week Low

The recession is the latest topic of conversation all over the world. As central banks around the world, including RBI, swiftly raise interest rates to cool down their economies, fears of a recession as a side consequence are growing. As the ground-level position of these companies worsens during a recession, it is impossible to expect a good capital appreciation of your stock value. In this inflation-affected market, adding dividend-paying companies to your portfolio may be beneficial. A steady income would not only help cushion your losses, but it would also help you get back to breakeven faster when the market improves.

Shree Cement Ltd, a large-cap cement company has recently announced a final dividend of 450%. The record date has also been announced. The company is a pioneer in the cement industry with world-class infrastructure and market capitalisation. Let's know more about the recent dividend and the dividend history of the company.

Shree Cement Ltd. Declared Dividend

The board of directors of the company on the date of filing to BSE, i.e. 21st May 2022 has approved the final dividend, the board has stated, "Board also recommended final dividend @ 45/- per equity share of Rs 10. each for the year ended 31st March, 2022 subject to approval of the members at the ensuing Annual General Meeting of the Company."

Ex-Dividend & Record Date - The investors should note that the ex-dividend date is 13th July 2022, and the record date is 14th July 2022. 

Shree Cement Ltd Dividend History

The company has maintained a good track record of dividends. It has declared 36 dividends since, out of which 18 are final dividends including the recent one, 17 are interim dividends and 1 special dividend. In May 2022, for March and Ending 2022, the company declared a final dividend of 450% amounting to Rs 45 per share. Also, earlier this, it has declared an Interim Dividend of 450% amounting to Rs 45 per share (RD Revised).

Stock Performance

The current market price (CMP) of the Shree Cement ltd at the time of the writing is Rs 18,574.80 on NSE. It was opened at Rs18,504 per share, while the previous close was Rs 18,414 per share.

The stock has touched the 52-week low of Rs 17,865.20 per share yesterday, June 20. Its 52-week high is Rs 31,469.95. Currently, the stock is trading near the 52-week low. 

The TTM PE ratio is 28.76. The P/B ratio is 3.84. TTM EPS is Rs 646.31. Its Divided yield is 0.49%. 

The stock has moved down nearly 3.35% in the last 1 week, 15.8% in the last 1 month, 20.8% in the last 3 months, and 34.36% in the last 1 year. The continues as it slid nearly 12.42% in 3 years. However, for long-term investors, this stock has given good returns. In 5 years of investment, it has given 6.61% of positive returns. 

Company Overview - Shree Cement Ltd.

Shree Cement, incorporated in the year 1979, is one of India's premier cement makers. The company's manufacturing operations are spread over North and East India across six states. The company is an energy-conscious & environment-friendly business organization. They have three brands under their portfolio namely Shree Ultra Jung Rodhak Cement Bangur Cement and Rockstrong Cement. Their manufacturing units are located at Beawar Ras Khushkhera Suratgarh and Jobner (Jaipur) in Rajasthan, Baloda Bazar in Chhattisgarh, Aurangabad in Bihar, Panipat in Haryana, Laksar (Roorkee) in Uttarakhand, and Bulandshahr in Uttar Pradesh. The company is headquartered in Kolkata India. Shree Cement Ltd

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