The National Aluminum Company Limited board will meet today to consider a proposal for an interim dividend for its shareholders. The company has set a record date for the dividend. According to a stock exchange filing by the company, Nalco’s board of directors has set January 27 as the record date for determining whether shareholders will be eligible to pay the dividend if approved today.

January 27 has been established as the “record date” for the payment of the interim dividend for the 2022-23 financial year (if approved by the board at its meeting scheduled for January 17, 2023).'” the company said in a BSE exchange filing.

Nalco is a Navratna company under the Ministry of Mines. It has integrated and diversified mining, metals, and power businesses. The government holds a 51.5% stake in the company.

Dividends are one of the corporate actions. Stock dividends are the amount that a public company pays to shareholders in cash. Stock dividends are rewards to shareholders without reducing the company’s cash balance.

NALCO stock was flat on D Street. Counters opened at Rs 84.05 on the NSE. It was quoted at Rs 83.15 over the counter at 11:37 am, down 0.6%.

Over the past six months, NALCO stock has returned investors about 13%. The stock’s 52-week range is Rs 132.70 – Rs 66.95. Currently, the company has a market capitalization of Rs 15.3 crore.