Noida Toll Bridge drops ex-dividend

Noida Toll Bridge Company lost 4.58% to Rs 25 at 10:43 IST on BSE as the stock turned ex-dividend today, 13 March 2014, for interim dividend of Rs 1.50 per share for the year ending 31 March 2014.

Meanwhile, the S&P BSE Sensex was up 127.72 points or 0.58% at 21,983.94.

On BSE, so far 84,000 shares were traded in the counter as against average daily volume of 66,244 shares in the past one quarter.

The stock hit a high of Rs 25 and a low of Rs 24.45 so far during the day. The stock had hit a 52-week low of Rs 18.65 on 16 September 2013. The stock had hit a 52-week high of Rs 26.75 on 10 March 2014.

The stock had outperformed the market over the past one month till 12 March 2014, surging 24.17% compared with the Sensex's 6.88% rise. The scrip had also outperformed the market in past one quarter, jumping 30.35% as against Sensex's 4.45% rise.

The small-cap toll booth operator has equity capital of Rs 186.20 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 5.72% based on the closing price of Rs 26.20 on Wednesday, 12 March 2014.

Noida Toll Bridge Company's net profit rose 16.8% to Rs 14.66 crore on 12.9% growth in net sales to Rs 31.06 crore in Q3 December 2013 over Q3 December 2012.

Noida Toll Bridge Company's principal business is operating the bridge and generates revenue mainly through the levy of toll on bridge-users.

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