NMDC declares interim dividend of ₹2.3 per share, stock rise over 2.5%; check record date

State-run iron ore miner NMDC Ltd has announced its interim dividend of ₹2.30 per share. This is the first interim dividend announced by the company for the financial year 2024-25.

Following the announcement, NMDC shares rose over 2.6% to hit an intraday high of 65.48 per share. The stock closed 2.12% higher at ₹65.15 apiece on the National Stock Exchange (NSE). NMDC shares are down 1.53% so far in 2025, which is lower compared to 4.80% fall in benchmark NIFTY50 index.

In an exchange filing, NMDC said its board of directors has declared an interim dividend of ₹2.30 per share of face value ₹1 each fully paid up for FY25. The dividend will be paid within prescribed timelines from the date of declaration.

The record date for the payment of the NMDC interim dividend on equity shares for the current fiscal year has been fixed as March 21, 2025.

NMDC is a government-owned mini-ratna public enterprise engaged in the exploration and production of iron ore along with diamonds. Incorporated in 1958, NMDC is India’s largest producer of iron ore and the sixth-largest iron ore producer in the world. The government has a 60.79% holding in the company.

The company reported a 26.8% YoY increase in its consolidated Profit after tax (PAT) to ₹1,880 crores in the third quarter of the current fiscal year. The net profit was ₹1,482 crore in the year-ago quarter.

Consolidated revenue from operations climbed 21.4% YoY to ₹6,568 crore, as against ₹5,410 crore in the same period of the previous financial year.

In February 2025, NMDC reported a monthly iron ore production of 4.62 metric tonnes (MT) compared to 3.92 MT in the same month of last year. Meanwhile, its cumulative production stood at 40.49 MT, which is slightly higher than last year’s cumulative production of 40.24.