Today is the ex-dividend date for this large-cap cement stock, which will pay a 450 percent dividend



Stocks Paying Dividends: Shree Cement Ltd., a large-cap cement firm, has declared a final dividend of 450 percent and goes ex-dividend today. The final dividend was approved by the board of directors of the company on May 21, 2022, the date it was filed with the BSE. The board stated, "Board also recommended final dividend @ 45/- per equity share of Rs 10. each for the year ended March 31, 2022 subject to the approval of the members at the ensuing Annual General Meeting of the Company." Investors should be aware that the record date is July 14, 2022, while July 13, 2022, is the ex-dividend date.


Shree Cement has a history of consistently paying out dividends. Since then, it has declared 36 dividends, of which 18—including the most recent—are final dividends, 17 are interim dividends, and 1 is a special dividend. The corporation announced a final dividend in May 2022 from farch and ending 2022, equal to Rs. 45 per share at a 450 percent yield. Additionally, earlier this, it paid an interim dividend of 450%, or Rs. 45 per share (RD Revised).


It was established in 1979. With 4 integrated plants in India, 1 in the UAE, and 9 grinding units, it has activities throughout these two countries. Shree Cement was a pioneer in the cement industry in the use of alternative fuels, and we currently have the second-highest installed capacity of waste heat recovery power plants in the world, behind China.


Financials

The cement maker released quarterly information from January to March 2022 in May of this year. Although the company's profit increased by 5.6% to Rs 645 crore, it was still 16% lower than the Rs 768 crore profit the company recorded in the fourth quarter of last year.


In comparison to the equivalent quarter of the prior fiscal, Shree Cement's revenue increased by 3.6% to Rs 4,098 crore for the quarter under review.


Should you Buy Shares?


In its first quarter (April 22 – June 22) earnings predictions for the cement sector, Prabhudas Lilladher stated that it anticipates Shree Cement to generate a net profit of Rs 721 crore, up 9% year over year (up 32.3 percent quarter-on-quarter). Prabhudas Lilladher predicts that Net Sales will climb by 26.3% year over year (up 6.3% quarter over quarter) to Rs 4,357 crore.


EBITDA, or earnings before interest, taxes, depreciation, and amortization, is forecast to increase by 6.5% year over year (up 18.6% quarter over quarter) to Rs 1,079.9 crore.


According to Jeffries, the company has a strong focus on renewable energy, alternative fuels, and logistical cost savings, and its stock appears to account for the anticipated industry-led decline in FY23.


The brokerage house added that starting in H2FY23, the company expects a break from cost inflation. It affirms that the enterprise will have a capacity of 80 metric tonnes per year by 2030.


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