Home / Markets / Stock Markets /  REC's record date for second interim dividend this week. Details inside

While announcing its earnings for the third quarter ended December 2022 (Q3 FY23), REC Ltd said that its board has approved and declared the second interim dividend of 3.25 per share for the financial year 2022-23. REC shares will start trading ex-dividend on Wednesday, a day ahead of the record date which has been fixed as Thursday, February 9, 2023.

The company announced the “declaration of 2nd interim dividend @ 3.25 (Rupees Three and Twenty Five Paise only) per equity share 10/ - each for the financial year 2022-23 as approved by the Board of Directors of REC Limited in its meeting held on January 30, 2023."

Further, the record date for the said interim dividend is Thursday, February 9, 2023 and the said interim dividend shall be paid dispatched on Tuesday, February 28, 2023 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 Thursday, February 9, 2023 in respect of shares held in electronic form; and (b) as members in the register of members on Thursday, February 9, 2023 in respect of physical shares, it added.

REC Ltd has declared an equity dividend amounting to 15.80 per share in the last 12 months and at the current share price, it results in a dividend yield of 13.04%, as per data by stock analytics platform Trendlyne.

The state-owned infrastructure finance company reported a 5% rise in third quarter net profit at 2,915 crore whereas the total revenue from operations fell over 2% to 9,782 crore. The company, which mainly 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 grew nearly 1% to 9,660 crore.

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