1:3 Bonus Issue: After Turning Ex-Dividend For 4.75/Share, Maharatna Stock Trades Ex-Bonus

Large cap public sector undertaking operating in power sector with maharatna status, Power Grid Corporation of India are trading ex-bonus today in the proportion of 1:3. Earlier this year on August 8, 2023, Power Grid shares traded ex-dividend for Rs 4.75/share dividend. Last trading price of Power Grid stock is Rs 195.50 per share with intraday fall of 1.41%. Check details below:

Power Grid Stock Trades 1:3 Ex-Bonus Today: As per its earlier BSE filing issued on August 8, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that the Company has fixed the Record Date as 12th September, 2023 for the purpose of ascertaining the eligibility of members entitled for issuance of Bonus Shares of the Company in proportion of 1:3 i.e.1 (One) equity share of nominal value Rs.10/- (Rupees Ten Only) each for every 3 (Three) equity shares of nominal value of Rs. 10/- (Rupees Ten Only) each held by Member(s)."

It announced 4.75 per share dividend for shareholders and set August 8, 2023 as the record date. The maharatna power sector company so far declared 36 dividends since March 10, 2008. If the current market price of Rs 195.50 is taken into consideration, Power Grid shares provides shareholders a dividend yield of 7.54%.

Power Grid Corporation Stock Performance & Return: Current market price of Power Grid stock is Rs 195.50 apiece on BSE. Its 52-week high price is Rs 203.95 per share and 52-week low price is Rs 139.76 apiece, respectively. It has a market capitalisation of Rs 1,81,826.80 crore. Power Grid stock soared 15% in last 6-months, gained 16% in last 1-year, jumped 50% in last 2-year, and witnessed a rally of 98% in last 3-years. In last 10-years, Power Grid stock offered shareholders return of 250%.

Power Grid Corporation Financias: Power Grid for the quarter ended June 30, 2023 declared a decline of 10.35% in its consolidated total income at Rs 11,257.60 crore as against its last quarter total income of Rs 12,557.44 crore. The large cap company declared its latest quarter net profit after tax at Rs 3602.25 crore.

Power Grid Corporation About: Power Grid Corporation of India Limited is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. POWERGRID, one among the largest power transmission utilities in the world, has developed expertise in its core areas such as power transmission, sub-transmission system, distribution management, load dispatch & communications, in India and abroad. Leveraging its capacity and experience, consulting services have been provided to several customers globally. POWERGRID is a listed Company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public, as per its official website.

Disclaimer

The stock just highlights the dividend, bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.