Mishra Dhatu Nigam declares 7.5% dividend, shares rise

Mishra Dhatu Nigam, a state-run defense company in India, is drawing attention after its board announced a 7.5% dividend. The company declared an interim dividend of ₹0.75 per share, based on a face value of ₹10 per share. This announcement was made during a board meeting on March 19, which was rescheduled from March 20. Earlier, the stock surged more than 8% in anticipation of this dividend news. The dividend record date has been set for March 25, meaning that shares will start trading without the dividend benefit from that date. Mishra Dhatu Nigam’s stock has experienced a 7% increase in the last month. However, this year it has declined by 17%. Over the past year, the shares have dropped by 21%, but they have risen by 50% over the last two years. Recently, the stock closed at ₹284.60 on the Bombay Stock Exchange, marking an increase of 8.40% for the day.