Indian Metals & Ferro Alloys Turns Ex-Dividend

Indian Metals & Ferro Alloys turned ex-dividend today. The company has given a final dividend of Rs 10 per equity share on Friday. The record date for the dividend is set at July 17, 2017.

The stock witnessed a selling pressure on BSE after giving a final dividend. It was trading down by nearly 1.8% at around Rs 539.2 per share as of 1129 hours on Friday.

The company is a producer of ferro chrome/ferro alloys. It operates through two segments: Ferro Alloys and Power. The company has consistent profit growth of 31.16% over past 5 years. However, it has a low return on equity of 9.65% for last 3 years.

If an investor purchases a stock on its ex-dividend date or after, the investor will not receive the next dividend payment. Instead, the seller gets the dividend. If investor purchases stock before the ex-dividend date, he will get the dividend.

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About Suhani Varma

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