This Large-Cap Steel Stock Turning Ex-Dividend Next Month, To Pay 1735% Dividend

The Shares of JSW Steel Ltd are going to turn into ex-dividend stock next month. The company has a stellar dividend track record and has consistently declared dividends for last 7 years. Here, we have highlighted the company's recently declared dividend, dividend history and the stock performance and returns including what the company said in its filing to stock exchanges. The company has declared a final dividend to shareholders for the ending March 2022 in the last month, May. As mentioned, the business maintains a solid track record of paying dividends to investors.

Declared Dividend

JSW Steel Ltd. for the year ending March 2022 has declared an equity final dividend of 1735% i.e. Rs 17.35 per share, the dividend was announced on 27 May 2022. According to the paper filed by the JSW Steel Ltd. to NSE & BSE, "In continuation of our letter of today's date submitting the Audited Standalone and Consolidated Financial Results for the Quarter & Year ended on 31st March, 2022 and in compliance with Regulation 30 (6) and other applicable Regulations, if any, of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors at its meeting held today has recommended a Final Dividend of Rs. 17.35/- (Rupees Seventeen and Paise Thirty Five only) (1735%) per fully paid-up Equity Share of Re.1/- each for the year ended 31.03.2022."
 
Ex-Dividend Date- It's worth mentioning that the ex-dividend date of the final dividend is 04 July 2022. The record date has not yet been announced by the company.
 

Dividend History

As mentioned earlier, the company has a solid track record of paying dividends and has done so for the past 7 years. 19 dividends have been declared by the company since early 2005, of which 2 are interim dividends, while the rest 17 are final dividends. Also, the company has maintained a constant dividend payout to the investors for the past 15 years. The company this year the company announced a final dividend of 1735 per cent amounting to Rs 17.35 per share. It's worth mentioning that this dividend is the highest dividend of the company in its dividend history.

Stock Outlook

JSW Steel's current market price (CMP) is Rs 567.80 per share, after closing on Friday. The stock's 52-week low is Rs 520.05 per share, recorded on 26 May 2022. While the 52-week high is Rs 790 per share, recorded on 19 April 2022. Investors should note that both low and high are recorded this year in April & May. The P/E ratio of the stock is 6.64, and the PB ratio is 1.97. EPS-TTM is Rs 84.49.
 
Coming to returns, the stock has given mixed returns over the years. For instance, it gave positive returns on an investment period of 1 month, 3 years and 5 years. It gave negative returns on 3 months & 1 year. Last week, and the last 1 month, the stock moved up nearly 2.38% and 5.21%, respectively. Whereas, in the last 3 months and 1 year, it has fallen nearly 20.6% and 16.38%, respectively. In a3 and 5 years, the shares gained a whopping 12025% and 190.14%, respectively.

 

About - JSW Steel Ltd.

JSW Steel is primarily engaged in the business of manufacturing and sale of Iron and Steel Products. The company aims to expand its crude steel capacity from 18 MnTPA in FY20 to 45 MnTPA within the next decade. In 2021, the company completed the acquisition of BPSL and became the largest steel producer in India. The company is the owner of the single largest steel plant in India with a capacity of 12 MnTPA. 

 
 

Disclaimer

The stock has been sourced from NSE & BSE. 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.