Nalco rose 0.90% to Rs 44.90 after the company announced a record 115% dividend payout amounting to Rs 1,072.73 crore for 2018-19.
National Aluminium Company (Nalco) declared a record dividend payout of Rs 1072.73 crore, an increase from 114% in 2017-18 to 115% in 2018-19, which works out to Rs 5.75 per equity share of Rs 5 each.This is the highest dividend payout since the inception of the company in 1981. Dividend including the applicable dividend distribution tax works out to a payout of 74.65% of the PAT against 98.81% of previous financial year.
Speaking on the sidelines of the AGM, CMD of NALCO Tapan Kumar Chand attributed the success to teamwork, strong cost focus and strategic planning.
Meanwhile, the S&P BSE Sensex was down 414 points or 1.13% to 36149.64.
On the BSE, 11 lakh shares were traded in the counter so far compared with average daily volumes of 49 lakh shares in the past one quarter. The stock hit a high of Rs 46.4 and a low of Rs 44.65 so far during the day.
The stock hit a 52-week high of Rs 72 on 5 November 2018. The stock hit a 52-week low of Rs 36.90 on 23 August 2019.
The stock had outperformed the market over the past one month, up 8.14% compared with 2.24% rise in the Sensex. The scrip underperformed the market in past one quarter, down 7.10% as against Sensex's 6.36% fall. The scrip had also underperformed the market in past one year, down 34.56% as against Sensex's 1.95% fall.
On a consolidated basis, net profit of NALCO declined 85.76% to Rs 97.87 crore on 29.91% rise in net sales to Rs 2084.08 crore in Q1 June 2019 over Q1 June 2018.
As on 30 June 2019, the government held 51.998% stake in Nalco.
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