300% Dividend Payout: Power Sector Midcap Stock To Trade Ex-Dividend On Monday, July 24

NAVA Limited (Formally known as Nava Bharat Ventures Ltd.) is set to trade ex-dividend on July 27, 2023, as Board fixed the 'Record Date' for 300% final dividend last week on July 10, 2023. The share price jumped 8.97%, hit a new 52 week high of Rs 344.50 per share after the Board announced the record date for the 300% dividend.

On May 24, 22023, the Board of Directors of NAVA Ltd. recommended the final dividend of 300% i.e. Rs 6 per equity share of Rs 2/- each for the financial year 2022-23.

NAVA Ltd. is a power sector midcap stock having a market capitalisation of Rs 5,311.13 Crore.

Record Date & Dividend

In an exchange filing, the Board of DIrectors of NAVA Ltd. said, "The Company has fixed Monday, July 24, 2023 as the Record Date for the purpose of determining the entitlement of the shareholders for the final dividend. The dividend, if approved by the shareholders at the ensuing AGM (to be held on August 04, 2023), will be paid/ dispatched within the statutory time limit from the date of approval by the shareholders."

"A final dividend on equity shares at the rate of 300% i.e. Rs. 6.00 (Six rupees only) per equity share of Rs. 2/- each for the financial year ended March 31, 2023," the company said in an exchange filing.

Stock Movement

The stock of NAVA closed 2.75% higher at Rs 339.60 per share with Rs 343 intraday high and Rs 329.05 intraday low on the BSE. Its 52-week high is Rs 344.50 per share recorded on July 17, 2023, and 52-week low is Rs 162.55 per share recorded on November 07, 2023, respectively.

The stock jumped 8.97% in 1 week, 10.06% in 2 weeks and 7.62% in 1 month, respectively. It gave 46.82% string return in 3 months, while in 6 months, it gave 40.24% return. In 1 year, it gave 73.27% return. In 2 years, it gave 184.66% return, 615.70% in 3 years and 177.34% in 5 years, respectively.

Disclaimer

The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.