Rs 3/Share Dividend: PSU Power Finance Corp Subsidiary Sets Record Date, Dividend Yield 7.26

Subsidiary of Power Finance Corp, REC Ltd on July 26 fixed August 14, 2023 as the record date for interim dividend of Rs 3/ equity share for the financial year 2023-24. Last trading price of REC share is Rs 173.45 per share with intraday gain of 0.78%. REC operates under the ministry of power and the large cap company was incorporated in 1969. Check details below:

REC Ltd Sets Record Date For Interim Dividend: According to the BSE filing of the public sector undertaking dated July 26, "Declaration of interim dividend @ '(3/- (Rupees Three only) per equity share of ~ 10/- each for the fmancial year 2023-24. Further, the record date for the said interim dividend is Monday, August 14, 2023 and the said interim dividend shall be paid/ dispatched on or before August 24, 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 August 14, 2023 in respect of shares held in electronic form; and (b) as members in the register of members on August 14, 2023 in respect of physical shares."

REC Ltd Dividend Yield & History: The PSU company declared 33 dividends since September 8, 2008. It offers a dividend yield of 7.26% at current share price of Rs 173.45 apiece.

REC Ltd Stock Performance & Return: Last trading price of REC Ltd is Rs 173.45 per share as on July 26, 2023. Its 52-week high price is Rs 175.60 per share and 52-week low price is Rs 91.00 per share, respectively. Its market capitalisation is Rs 45,673.27 crore. In last 1-year, REC shares offered 82% return, rallied 53% in last 2-years, and gave return of 117% in last 3-years.

REC Ltd Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 10,254.63 crore, up 4.69% as against its last quarter total income of Rs 9795.47 crore. It declared its recent quarter net profit after tax at Rs 3065.37 crore.

About: REC is a Maharatna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company with a Net Worth of over Rs 57,000 crore (as on 31st March, 2023). 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 our extensive network of 22 offices across the country, according to its official website.

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