In the trading session on Thursday, Gujarat Mineral Development Corporation (GMDC) Ltd. shares began trading ex-dividend, one day before the record date for its announced dividend of ₹4.30 rupees per equity share for the fiscal year FY 2021–22. Early trades on the BSE showed GMDC shares trading roughly 0.5% lower at ₹146 per share.
While announcing its results for the first quarter ended June 2022 for the current fiscal year, GMDC had stated, “We would also like to notify that the Board has also proposed dividend of 215% i.e. Rs. 4.30 per equity share of Rs. 2 each for financial year ended on 31st March, 2022.” (Q1 FY23).
The multibagger stock has soared nearly 110% in a year, compared to the Gujarat-based PSU metal company’s rally of almost 100% in 2022 (year to date, or YTD). India’s GMDC is a mining and processing firm for minerals.