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Last Updated : Mar 18, 2020 03:04 PM IST | Source: Moneycontrol.com

Larsen & Toubro board declares interim dividend, share price falls 3%

The record date for the purpose of determining the entitlement of the equity shareholders for the dividend will be March 26, 2020.

 
 
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The share price of Larsen & Toubro was down over 3 percent intraday on March 18.  The company’s board has approved the first interim dividend of Rs 10 per equity share, which is 500 percent on the face value of Rs 2 each, for the financial year 2019-20.

The record date for the purpose of determining the entitlement of the equity shareholders for the dividend will be March 26, 2020, the company said in a filing to the exchanges.

Larsen & Toubro won an order for design, supply, installation and commissioning of power transmission infrastructure for the 800-MW Rupsha power plant in Bangladesh.

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The company will also build 220kV substations in Nepal and set up 380kV and 230kV transmission-line corridors in Saudi Arabia.

At home, the business will design and construct a 50MW solar photovoltaic plant in Tamil Nadu. The company also received additional orders for ongoing transmission line jobs in India.

The stock, which has declined more than 38 percent in the last nine months, was quoting at Rs 923.20, down Rs 32, or 3.35 percent.

It has touched an intraday high of Rs 975 and an intraday low of Rs 910. It was trading with volumes of 227,759 shares, compared to its five day average of 407,291 shares, a decrease of 44.08 percent.

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First Published on Mar 18, 2020 03:03 pm
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