Cochin Shipyard share price falls 6% as ex-dividend date kicks in; details

Cochin Shipyard declared the second interim dividend of Rs 3.50 per equity share of Rs 5 each, fully paid-up (70 per cent of the face value) for the financial year 2024-25

Cochin Shipyard share price: The share price of the state-owned Miniratna company, Cochin Shipyard, dropped by 6.20 per cent to Rs 1,244.10 per share on the National Stock Exchange (NSE) during intraday trading on Wednesday, February 12, 2025. This drop follows the company’s announcement of its second interim dividend for shareholders, as the stock traded ex-dividend on the same day.

 

In its regulatory filings, the Miniratna company informed the exchanges that its board had declared the second interim dividend of Rs 3.50 per equity share of Rs 5 each, fully paid-up (70 per cent of the face value) for the financial year 2024-25. Cochin Shipyard has set Wednesday, February 12, 2025, as the record date for the aforesaid interim dividend.

 

 

The company further stated that the interim dividend will be paid to eligible shareholders on or before March 7, 2025.

 

Earlier, in November 2024, the shipbuilding and allied services provider had announced an interim dividend of Rs 4 per share for its shareholders. At the current market price, the company’s dividend yield stands at 0.76 per cent.

 

Incorporated in the year 1972 as a fully owned Government of India company, Cochin Shipyard (CSL) is a Schedule A Miniratna company under the Ministry of Ports, Shipping, and Waterways. It is one of the leading shipbuilding companies in India. Cochin Shipyard's market capitalisation stands at Rs 34,161.04 crore on the NSE. The company is also a constituent of the Nifty Midcap100 index.

 

Cochin Shipyard shares reached their 52-week high of Rs 2,979.45 per share on the NSE on July 8, 2024. However, they slipped to their 52-week low of Rs 713.35 per share on March 14, 2024.

 

The shipbuilding company’s shares have dropped by 4 per cent in the last one month and 44 per cent in the last six months. However, they have surged by a whoping 60 per cent over the past year.

 

As of 1:53 pm on Wednesday, Cochin Shipyard shares were quoted at Rs 1,291.50 per share, down 2.38 per cent from their previous close of Rs 1,326.45 on the NSE. In comparison, the benchmark NSE Nifty 50 index was trading at around 23,049.75, down 22 points or 0.10 per cent from its previous close.