Steel Authority of India fell 1.74% to Rs 76.20 at 09:22 IST on BSE, as the stock turned ex-dividend today, 15 February 2013, for an interim dividend of Rs 1.60 per share for the year ending 31 March 2013.
Meanwhile, the BSE Sensex was down 39.59 points, or 0.2%, to 19,457.59
On BSE, 13,586 shares were traded in the counter as against an average daily volume of 3.71 lakh shares in the past one quarter.
The stock hit a high of Rs 77.05 and a low of Rs 75.80 so far during the day. The stock had hit a 52-week high of Rs 115.90 on 17 February 2012. The stock had hit a 52-week low of Rs 75.80 on 5 September 2012.
The stock underperformed the market over the past one month till 14 February 2013, sliding 17.81% compared with the Sensex's 2.06% fall. The scrip had also underperformed the market in past one quarter, falling 3.42% as against Sensex's 4.72% rise.
Before turning ex-dividend, the Steel Authority of India (Sail) stock offered a dividend yield of 2.06% based on the closing price of Rs 77.55 on Thursday, 14 February 2013.
Sail's net profit fell 23.4% to Rs 484.30 crore on 2% decline in total income to Rs 10890.97 crore in Q3 December 2012 over Q3 December 2011. The result was announced during trading hours on 12 February 2013.
The board of directors of Sail at its meeting held on 12 February 2013 had approved declaration of interim dividend of Rs 1.60 per share for the year ending 31 March 2013. The date of payment of dividend was set as 19 February 2013.
Sail is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. Sail has five integrated steel plants, three special plants, and one subsidiary in different parts of the country
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