STC Hits Negative Circuit

Apr 06, 2021 11:49 AM Merolagani

The stock price of Salt Trading Corporation (STC) has hit a negative circuit following its dividend declaration on April 5.

The board of directors meeting of the company decided to propose 25 percent dividend including 20 percent stock and 5 percent cash dividend to its shareholders on April 6.

On Tuesday, within few minutes of trading, the stock price has fallen by 10 percent. On Monday, the last trading price of the stock was Rs 13,102 which fell to Rs 11,792 on Tuesday.

In the previous FY, it distributed 35 percent dividend including 25 percetn stock and 10 percent cash dividend to the shareholders.

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