Mishra Dhatu Nigam shares rise 6% before dividend date

Shares of Mishra Dhatu Nigam Ltd increased by nearly 6% on March 24. This rise comes just ahead of the record date for an interim dividend of ₹0.75 per share. The stock has enjoyed a strong comeback this month, recovering more than 23% from earlier losses but is still below its all-time high. The board of Mishra Dhatu Nigam announced the interim dividend on March 19, ahead of the planned date. The record date to confirm shareholder eligibility for the dividend is set for March 25. The stock will begin trading without the dividend on March 26. Mishra Dhatu Nigam, a defense public sector enterprise, has a history of dividend payments. Previous dividends included ₹1.41 per share in March 2024 and ₹1.67 per share in September 2023. The company aims to maintain its reputation for returning value to shareholders. On March 24, the stock reached an intra-day high of ₹303.90. Despite this boost, it is still 44% lower than its peak of ₹541 from July 2024. Earlier this month, the shares hit a 52-week low of ₹226.60. Over the past year, the stock has dropped 23% but has experienced a resurgence in March, recovering from three prior months of declines.