Rs 4/Share Dividend: Record Date In 3 Days; Bet On The LIC-Backed Stock?

At the end of the Saturday closing session, DCM Shriram Limited reported a market valuation of Rs 15,188.78 Cr, wrapping up 1.34% higher at Rs 974 per share.

The three main business categories that make up DCM Shriram’s portfolio are value-added, chlor-vinyl, and agri-rural. DCM Shriram produces fertiliser, chlor-vinyl cement, and chlor-alkali at Bharuch, Gujarat, and Kota, Rajasthan.

The stock will trade ex-dividend on March 6, 2024, attracting a 400% payment at a face value of Rs. 2/-per share and being a 6.76% stake by LIC in DCM Shriram the stock is likely to be in focus in the next 3 days.

DCM Shriram Dividend

“We would like to inform that the Board of Directors of the Company, at its meeting held on February 27, 2024 have inter-alia declared Interim Dividend for the financial year 2023-24 on the paid-up equity share capital of the Company, @ 200% (Rs.4 per equity share of face value of Rs.2/- each).

As already intimated vide our aforesaid letter, the Record Date fixed for the purpose of the said Interim Dividend shall be March 6, 2024. Further, the said Interim Dividend shall be paid/dispatched to all eligible shareholders on or before March 27, 2024,” said DCM Shriram in a stock exchange filing.

DCM Shriram News

The DCM Shriram Ltd. board of directors recently granted in-principle approval for the company’s chemicals division to enter the “Advanced Materials” market by investing in epoxy and value-added products at a board meeting held on February 27, 2024. Over the next five years, the company plans on investing Rs 1000 crores to establish a state-of-the-art, greenfield epoxy manufacturing facility.

Notably, the company’s Epichlorohydrin (ECH) manufacturing facility in Jhagadia, Gujarat, is nearing completion and is expected to become operational in Q1 of 2024-2025. The manufacturing of epoxy requires more than 80% of the ECH produced worldwide.