MSTC Ltd to give final dividend, 10th September Record Date

MSTC Ltd under the Ministry of Steel, Government of India, a Mini Ratna Category-I PSU and one of the top public sector undertakings (PSUs) in the e-commerce industry has been providing cutting-edge e-commerce solutions to a variety of industries since 2002.

"The Board of Directors of the Company has, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company, recommended a final dividend of Rs. 5.00 per equity share, (i.e. 50 % on the paid-up equity share capital) for the Financial Year 2023-24.

The final dividend would be paid within 30 days from the date of its declaration at the 59th AGM of the Company. The final dividend is in addition to the Interim Dividends paid for the financial year 2023-24," said the company in a stock exchange filing.

Read Also : Manish Raj Gupta to be next Director Technical, Projects and Raw Materials of SAIL

"The Company has fixed Tuesday, 10th September 2024 as the 'Record Date' for determining entitlement of members to receive final dividend for the FY 2023-24.

The final dividend for the financial year 2023-24, if declared at the 59th AGM, will be paid within the stipulated time, to all those members whose names appear on the Company's Register of Members / Beneficial Owners as at the closure of business hours on Tuesday, 10th September 2024 as on the 'Record Date'," MSTC informed stock exchanges.

 

Read Also : Stock market indices surge as global markets rally after Fed rate cut

As per financial results, the net sales of Rs. 189.50 crore in the June 2024 quarter, the firm reported a 5.87% growth over the Rs. 179.00 crore in the June 2023 quarter.

A 22.31% rise from Rs. 50.61 crore in Q1FY24 to Rs. 61.90 crore in Q1FY25 was recorded in net profit. EBITDA increased 3.06% to Rs. 89.92 crore in the June 2024 quarter from Rs. 87.25 crore in the corresponding FY23 quarter.

Read Also : NTPC board approves Rs 9,700 cr investment for 800 MW Sipat project