GNFC Rewards Shareholders with Rs.30 Dividend

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Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC)

Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC) is a leading manufacturer of fertilizers and chemicals in India. The company has a strong track record of financial performance and has been paying dividends to its shareholders for many years.

Declares Rs.30 Dividend for FY 2022-23

GNFC has announced a dividend of Rs.30 per share for the financial year 2022-23. This is the highest dividend ever declared by GNFC.

Strong Financial Performance

The company's board of directors took the decision to declare such a high dividend in view of the company's strong financial performance during the last financial year. GNFC's net profit for the financial year 2022-23 stood at Rs.1,200 crore, which is a growth of 50% over the previous year. The company's revenue also grew by 25% to Rs.10,000 crore.

High Dividend Payout

The high dividend payout is expected to benefit the company's shareholders and boost investor sentiment. The dividend will be paid out in two installments of Rs.15 per share each. The first installment will be paid out on June 15, 2023, and the second installment will be paid out on December 31, 2023. The dividend is subject to the approval of the shareholders at the annual general meeting (AGM) to be held on July 29, 2023.

Positive Sign for GNFC and its Shareholders

The dividend announcement is a positive sign for GNFC and its shareholders. The high dividend payout is a testament to the company's strong financial performance and its commitment to shareholder value. The dividend is also expected to boost investor sentiment and attract new investors to the company.

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