- Shares of John Cockerill India Ltd are set to attract investor attention on May 6, as the company’s Board of Directors has declared a final dividend of ₹7.00 per equity share for its eligible shareholders.
- The record date to determine the eligibility of shareholders for the final dividend has been set for May 6.
- John Cockerill India Ltd, the Indian arm of Belgium-based John Cockerill Group, has also announced plans to expand its green hydrogen space in India.
John Cockerill India Ltd announces a final dividend of ₹7.00 per share, and plans to expand its green hydrogen space in India, making it a stock to watch in the coming days.
John Cockerill India Ltd Declares Final Dividend
The Board of Directors of John Cockerill India Ltd has declared a final dividend of ₹7.00 per equity share for its eligible shareholders. The record date for determining the eligibility of shareholders for the final dividend has been set for May 6. The announcement was made in a stock exchange filing, where the company also stated that the dividend is subject to the approval of members at the forthcoming Annual General Meeting scheduled for May 14, 2024.
Shares to Trade Ex-Dividend
Following the announcement, shares of John Cockerill India Ltd will trade ex-dividend on Monday. The company, which is the Indian entity of Belgium-headquartered John Cockerill Group, has been making significant moves in recent times, particularly in the green hydrogen space.
Expansion into Green Hydrogen Space
Earlier this year, the Belgium group announced its intention to make its proposed electrolyzer plant in India a hub for exports. The group also plans to venture into defence manufacturing. According to Francois Michel, CEO of John Cockerill Group, several hundred million dollars would be invested in the electrolyzer plant. The company aims to make its planned 2-GW joint venture facility with Greenko a major hub for electrolyzer exports. The plant is expected to be commissioned within the next two years.
Partnership with Greenko Group
In March 2022, Greenko Group and John Cockerill signed an agreement to exclusively partner in market development initiatives for green hydrogen electrolyzers in the Indian sub-continent. This partnership further strengthens John Cockerill’s position in the green energy sector and is likely to boost its stock performance in the future.
Conclusion
With a final dividend announcement and plans for expansion in the green hydrogen space, John Cockerill India Ltd is a stock to watch in the coming days. The company’s strategic moves and partnerships indicate a promising future, making it a potential pick for investors interested in the green energy sector.
