135% Gain YTD: After 1:3 Bonus Share, PSU Co To Offer Rs 3.50/Share Dividend

Board of directors of Maharatna public sector undertaking REC Ltd on Wednesday approved interim dividend of Rs. 3.50/- per equity share of Rs 10 each for the FY 2023-24. Last trading price of REC Ltd share on BSE is Rs 282.85 per share with intraday fall of 1.63%. REC Ltd shares soared 174% in last 1-year and gained 266% in last 3-years. REC fixed November 13, 2023 as record date for interim dividend. Check details below:

REC Ltd Declares Interim Dividend: As per the BSE filing of the company, "Declaration of 2nd interim dividend @ 3.50 (Rupees Three and Paise Fifty only) per equity share of Rs 10/- each for the financial year 2023-24. Further, the record date for the said interim dividend is Monday, November 13, 2023 and the said interim dividend shall be paid on or before November 30, 2023 to those shareholders, whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as on the close of business hours on November 13, 2023 in respect of shares held in electronic form; and (b) as members in the register of members on November 13, 2023 in respect of physical shares."

REC Bonus & Dividend History: REC Ltd. gave 2 bonuses since September 28, 2016. The last Bonus that REC declared was in the ratio 1:3 with ex-date of Aug. 17, 2022. REC Ltd declared 34 dividends since September 8, 2008. In the past 12 months, REC Ltd announced an equity dividend amounting to Rs 15.60 per share. At the current share price of Rs 282.85, it offers a dividend yield of 5.51%.

REC Ltd Stock Performance & Return: Last trading price of REC Ltd on BSE is Rs 282.85 per share with intraday fall of 1.63%. Its 52-week high price is Rs 299.10 per share and 52-week low price is Rs 98.10 per share, respectively. The company's market capitalisation is Rs 74,480.74 crore. REC stock offered shareholders return of 174% in last 1-year, rallied 151% in last 2-years, soared 266% in last 3-years, and gave return of 220% in last 5-years.

About REC Ltd: REC is a Maharatna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution.

It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of 22 offices across the country. REC came into being in 1969 to articulate a response to the pressing exigencies of the nation. Domestically, it holds the highest credit ratings from CRISIL, ICRA, IRRPL and CARE and internationally it is rated at par with the sovereign ratings.

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