DIVIDEND STOCK UNDER RS 500, NAVARATNA PSU: JUNE 28 IS RECORD DATE
Dividend Stock Under Rs 500, Navratna PSU: Shares of a public sector undertaking (PSU) are going to trade ex-dividend on June 28. The state-owned company is involved in financing projects across the entire power value chain – from generation plants to distribution networks.
The PSU has a Navaratna status and is a subsidiary of Power Finance Corporation (PFC). Navaratna companies could invest up to Rs 1,000 crore without explicit government approval.
The stock is a constituent of BSE 100 and boasts a market cap of Rs 1,33,596.62 crore, as of the current market price on Monday, June 24.
The stock under discussion is REC Ltd. At the time of filing this report around 10:00 AM, REC Ltd's shares traded at Rs 508.90 per share on NSE, down 0.32 per cent.
REC Dividend 2024
REC Ltd. had declared a final dividend of Rs 5 per share for the the financial year ended March 31, 2024."...the Board of Directors of REC Limited in its meeting held on April 30, 2024, had inter alia considered and recommended final dividend @ Rs 5 /- (Rupees Five only) per equity share of Rs 10 each for the financial year 2023-24, subject to approval of shareholders in the ensuing Annual General Meeting (AGM)," the company's exchange filing stated.
REC Dividend 2024 Record Date, Ex-Date
REC Ltd has fixed June 28 as the record date as well as ex-date for its forthcoming dividend. The record date is the specific day on which a company finalises the list of shareholders eligible for its upcoming dividend distribution."...the Company has fixed Friday, June 28, 2024 as the 'Record date' for determining the eligibility of members for payment of final dividend for the financial year 2023-24," the company said in an exchange filing.
REC Dividend 2024 Payment Date
REC Ltd has not fixed any specific payment date for its upcoming dividend, however, the PSU said that it will credit the dividend to the eligible shareholders within 30 days after it gets approved by the shareholders."After approval of the shareholders in the ensuing AGM, the said final dividend will be paid/dispatched within 30 days 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 June 28,2024 in respect of shares held in electronic form; and (b) as members in the register of members on June 28, 2024 in respect of physical shares," said the company.
REC Dividend History, Yield
REC Ltd. had declared total 37 dividends since its listing. In the past 12 months, the company declared a cumulative Rs 15.35 per share dividend.At the current market price, the company's dividend yield stands at Rs 3.02 per cent.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
2024-06-24T05:32:53Z dg43tfdfdgfd