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Business News/ Markets / Stock Markets/  CG Power board announces interim dividend for FY 22-23. Details here
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CG Power board announces interim dividend for FY 22-23. Details here

The record date for determining the members eligible to receive aforesaid Interim Dividend is 15 March, 2023.

CG Power and Industrial Solutions board on 2 March declared interim dividend (Mint )Premium
CG Power and Industrial Solutions board on 2 March declared interim dividend (Mint )

CG Power and Industrial Solutions board on 2 March declared interim dividend for the Financial Year 2022-23. In a meeting with the Board of Directors, interim dividend of 1.5 per share of face value of 2 each for the fiscal year 2022-23 has been approved.

As per the BSE filing, Board of directors of the company at its meeting held today i.e. 2nd March, 2023 has considered and approved the payment of interim dividend at 1.50 per equity share i.e. 75 per cent on face value of 2 per share for financial year 2022-23.

The Record Date for determining the Members eligible to receive aforesaid Interim Dividend is 15 March, 2023, as per the statement.

The statement further added that the interim dividend will be paid on or after 29th March, 2023, but within 30 days from the declaration of interim dividend in terms of the relevant provisions of the Companies Act, 2013.

CG Power was recently added in the MSCI index along with Bank of Baroda. With over 50 years, MSCI is a leading provider of critical decision support tools and services for the global investment community. To be eligible for inclusion in an MSCI index, a security's Foreign Inclusion Factor (FIF) must reach a certain threshold.

Prior to that, the CG board also approved the expansion of the manufacturing capacity of transformers at two of its facilities in Madhya Pradesh at an outlay of 126 crore. The company pre-redeemed Non-convertible Debentures worth 200 crore, post which it has become debt free, it said.

While announcing the results for December quarter 2022-23, it said that the company's consolidated net profit declined 58 per cent to 227.86 crore. The company's net profit in the year-ago period was 545.06 crore, according to a BSE filing. Total income rose to 1,809.95 crore in the quarter from 1,558.89 crore in the same period a year ago. Total expenses also increased to 1,528.22 crore from 1,385 crore in the same period of 2021-22.

(With inputs from agencies)

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Published: 03 Mar 2023, 07:31 AM IST
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