Home / Markets / Stock Markets /  Board of Maharatna company approves 5 per share dividend

Power Grid Corporation of India, a "Maharatna" Central Public Sector Enterprise (CPSE), is a large-cap corporation with a market valuation of 1,57,749.87 Cr. The company is the largest electric power transmission utility in India. The payment of an interim dividend of Rs. 5 per equity share for the fiscal year 2022–23 has been decided by the board of directors at their meeting held today, November 5, 2022.

The company has said today in a stock exchange filing that “In terms of Regulation 30 and 43 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is also informed that the Board of Directors, in their Meeting held today i.e. on 5th November, 2022, have approved the payment of Interim Dividend of Rs. 5/- per equity share of Rs. 10/- each (@50% of the paid-up equity share capital) for the Financial Year 2022-23. The Interim Dividend shall be paid to the Members on 30th November, 2022."

They further informed stock exchanges by saying that “The Company, in its 33rd Annual General Meeting held on 29 August 2022, has declared and subsequently paid final dividend of 2.25 per share (face value of 10/- each) in addition to interim dividend of 12.50 per share paid earlier, totalling to 14.75 per share for the financial year 2021-22. The Company, in its Board Meeting held on 05 November 2022, has declared interim dividend of 5.00 per share for financial year 2022-23."

On a consolidated basis, the net profit of Power Grid Corporation of India rose 8.10% to 3650.16 crore in the quarter that ended September 2022 as against 3376.38 crore during the same quarter previous year. In Q2FY23, sales went up 8.60% to 11150.57 crore from 10266.98 crore in Q2FY22. In Q2FY23, the firm reported total expenses of 7,229.40 Cr, a YoY increase of 15.93% from Q2FY22's 6,235.52 Cr. In Q2FY23, the EPS jumped to 5.28 per share from 5.34 in Q1FY23 and 5.33 in Q2FY22.

On the NSE, the shares of Power Grid Corporation of India Limited closed on Friday at 226.80 apiece, down by 0.55% from the previous close of 228.05. In its last trading session, the stock recorded a total volume of 6,044,751 shares compared to the 20-Day average volume of 11,302,309 shares. In the last 1 year, the stock has gained 19.90% and on a YTD basis, the stock has gained 10.63% so far in 2022. In Friday's closing session, the stock was seen trading above 10 days, 20 days, 50 days, 100 days and 200 days SMA but below 5 days Simple Moving Average (SMA). 


Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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