NLC India was up 6% to Rs 118, extending its Tuesday’s 14% surge on BSE, after the state-owned company announced that the board declared an interim dividend of 73.40% or Rs 7.34 per equity share for the financial year 2016-17. The stock will turn ex-dividend on Friday, March 24, 2017.
“The company has fixed March 28, 2017 as the record date for the purpose of ascertaining the members for entitlement of the interim dividend. The same will be paid to shareholders on or before 31.03.2017,” NLC India said in a BSE filing.
The stock quoting at its fresh 52-week high, has seen trading volumes more than doubled. Till 11:46 am; a combined 2.62 million shares changed hands on the counter on BSE and NSE.
Thus far in the calendar year 2017, the stock rallied 55% as compared to 10% rise in the S&P BSE Sensex.