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Dividend paying stock: Power Grid Corporation of India Limited board has recommended final dividend of ₹2.25 per share or 22.50 per cent of total paid-up capital of the company, which is subject to approval of shareholders at the Annual General Meeting (AGM) of the company. This final dividend is in addition to the interim dividend of ₹7 (70 per cent of total paid-up capital of the company) announced in January 2022 and ₹5.50 (55 per cent of total paid-up capital of the equity share), which was announced in March 2022. Power Grid share price today is around ₹226 apiece, which means the state-owned company has given annual dividend yield (in FY22) to the tune of near 6.50 per cent.
The Power Grid Corporation of India Limited informed about the final dividend recommendations to Indian bourses citing, "It is informed that Board in its meeting held on 21st May, 2022 has recommended a final dividend of Rs. 2.25 per share (i.e. @ 22.50% on the paid up equity share capital} for the financial year 2021-22 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. The final dividend would be paid within 30 days from the date of its declaration at the AGM. This final dividend is in addition to the 1st Interim Dividend of Rs. 7 .00 per share (including Special Dividend of Rs. 3.00 per equity share) i.e. @ 70% on the paid up equity share capital paid on 11th January, 2022 and 2nd Interim Dividend of Rs. 5.50 per share (i.e. @ 55% on the paid up equity share capital) paid on 8th March, 2022 for the financial year 2021-22."
Here we list out 5 takeaways after this final dividend proposal:
1] The Board of Directors have recommended ₹2.25 per share final dividend yield, which is subject to approval by shareholders of the company in its AGM.
2] This final dividend is in addition to the interim dividends of ₹7 (including Special Dividend of ₹3.00 per equity share) announced in January 2022 and ₹5.50 per share announced in March 2022.
3] Net annual dividend given by the Power Grid Corporation of India Limited is ₹14.75 per share ( ₹7 + ₹5.50 + ₹2.25).
4] So, annual dividend yield of Power Grid Corporation of India in FY22 stands at around 6.50 per cent [( ₹14.75/ ₹226) x 100]. Here ₹226 is Per Grid share price today.
5] The final dividend would be paid within 30 days from the date of its declaration at the AGM.
