Shares of REC will begin trading ex-dividend on Wednesday, a day before the record date, which has been set as Thursday, February 9.
Declaring its earnings for the third quarter ended December 2022 (Q3 FY23), REC Ltd said that its board has approved and declared a second interim dividend of ₹3.25 per share for the financial year 2022-23 . Shares of REC will start trading at ex-dividend on Wednesday, February 9, 2023, a day before the scheduled record date.
The Company declared "Second Interim Dividend at the rate of ₹10/- per Equity Share of ₹3.25 (Paise Three and Twenty Five Only) per Equity Share for the Financial Year 2022-23 as declared by the Board of Directors of REC Limited in its meeting was approved. To be held on January 30, 2023."
Further, the record date for the said Interim Dividend is Thursday, the 9th February, 2023 and the said Interim Dividend will be paid on Tuesday, the 28th February, 2023 to the Shareholders whose names appear as Beneficial Owners in the Statement (a) Are. ) submitted by the depository(s) at the close of business hours on Thursday, February 9, 2023 in respect of shares held in electronic form; and (b) in respect of physical shares as members in the register of members on Thursday, the 9th day of February, 2023, it added.
According to data from stock analytics platform Trendline, REC Limited has declared an equity dividend amounting to ₹15.80 per share in the last 12 months and at the current share price, this results in a dividend yield of 13.04%.
The state-owned infrastructure finance company reported a 5% rise in net profit to ₹2,915 crore in the third quarter, while total revenue from operations fell over 2% to ₹9,782 crore. The company, which primarily provides loans to state electricity boards, state utilities and all segments of power infrastructure in the private sector, said its interest income on loan assets rose nearly 1% to ₹9,660 crore.
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