Rs 4.75/Share Dividend: Govt-Owned Company Sets Record Date, Q4 FY23 Net Profit Up 4%

Power Grid Corporation, public sector undertaking under Power Ministry, today fixed August 8, 2023 as the record date for final dividend of Rs 4.75 per share for FY 2023-24. Last trading price of Power Grid Corporation share is Rs 251.15 per share with intraday gain of 1.52%. Check details below:

Power Grid Corporation Declares Record Date For Dividend: According to the BSE filing of the company, "This is in continuation of our earlier letter dt. 19th May, 2023 wherein it was informed that the Board has recommended a final dividend of Rs. 4.75/- per share (i.e. @ 47.5% on the paid up equity share capital) for the Financial Year 2022-23 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. In this regard, the Company has fixed Tuesday, 8th August, 2023 as the 'Record Date' for the purpose of ascertaining the eligibility of the Shareholders for payment of Final Dividend in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."

Power Grid Corporation Dividend History: The company announced 35 dividends since March 10, 2008, as per Trendlyne. It offers a dividend yield of 4.88% at current market price of Power Grid share.

Power Grid Corporation Stock Performance & Return: Last trading price of Power Grid Corporation stock is Rs 251.15 per share with intraday gain of 1.52%. Its 52-week high price is Rs 263.65 per share and 52-week low price is Rs 186.35 per share, respectively. It has a market capitalisation of Rs 1,75,188.50 crore. Power Grid Corporation shares delivered 15% return to shareholders in last 6-months, offered return of 21% in last 1-year, soared 44% in last 2-years, and jumped 84% in last 3-years.

Power Grid Corporation Financial Performance: The company on May 19 declared 4% year-on-year surge in its consolidated net profit for the 4th quarter ended March 31 to Rs 4320.43 crore as against the net profit of Rs 4156.44 crore in the year ago period. Its net profit jumped 18%, sequentially.

About The Company: Power Grid Corporation of India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Power, Government of India. It is engaged mainly in transmission of bulk power across different states of India. It is headquartered in Gurugram, according to its official website.

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