Active Stocks
Tue Mar 19 2024 13:41:05
  1. Tata Consultancy Services share price
  2. 4,004.65 -3.38%
  1. Tata Steel share price
  2. 150.30 0.47%
  1. Bharti Airtel share price
  2. 1,231.60 0.53%
  1. Power Grid Corporation Of India share price
  2. 260.35 -1.75%
  1. ITC share price
  2. 410.15 -1.74%
Business News/ Markets / Stock Markets/  REC shares trade ex-dividend on record date; stock rises
BackBack

REC shares trade ex-dividend on record date; stock rises

REC declared the second interim dividend of ₹3.25 per share for the financial year 2022-23

iStockPremium
iStock

Shares of REC Ltd started trading ex-dividend on Thursday with the stock rising 0.5% to 118 apiece on the BSE in opening deals on the record date of the same. While announcing its earnings for the third quarter ended December 2022 (Q3 FY23), REC Ltd had said that its board also approved and declared the second interim dividend of 3.25 per share for the financial year 2022-23.

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.

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.

REC Ltd is a leading infrastructure finance company with business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution. The stock is up more than 16% in a year's period.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Feb 2023, 09:22 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie