RCF drops ex-dividend

Rashtriya Chemicals & Fertilizers fell 4.75% to Rs 28.10 at 09:31 IST on BSE on turning ex-dividend today, 19 August 2013 for final dividend of Rs 1.50 per share for the year ended 31 March 2013.

Meanwhile, the S&P BSE Sensex was down 217.97 points or 1.17% at 18,380.21

On BSE, 25,365 shares were traded in the counter as against average daily volume of 88,046 shares in the past one quarter.

The stock hit a 52-week low of Rs 27 in intraday trade today, 19 August 2013. The stock hit a high of Rs 29 so far during the day. The stock had hit a 52-week high of Rs 64.40 on 27 September 2012.

The stock had underperformed the market over the past one month till 16 August 2013, falling 12.98% compared with the Sensex's 6.31% decline. The scrip also underperformed the market in past one quarter, falling 27.87% as against Sensex's 8.15% fall.

The small-cap company has equity capital of Rs 551.69 crore. Face value per share is Rs 10.

Before turning ex-dividend, Rashtriya Chemicals & Fertilizers' (RCF) stock offered a dividend yield of 5.08% based on the closing price of Rs 29.50 on Friday, 16 August 2013.

RCF's net profit fell 31.3% to Rs 4.48 crore on 2.1% decline in net sales to Rs 1435.19 crore in Q1 June 2013 over Q1 June 2012.

State-run RCF is one of the leading producers of urea in India. The Government of India (GoI) holds 80% stake in RCF (as per the shareholding pattern as on 30 June 2013).

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