Shares of Rural Electrification Corporation fell over 5 per cent on the Bombay Stock Exchange (BSE) after the stock was quoted ex-dividend for Rs 12 per share.
The board of directors of REC at its meeting held on February 10, 2016 had declared payment of interim dividend at the rate of Rs 12 per equity share on the face value of Rs 10 each for the financial year 2015-16.
Following the development, shares of the company dropped 5.23 per cent to Rs 160.30 a piece on Bombay Stock Exchange.
Shares of the company dipped 1.18 per cent to Rs 159.10 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 23,098.33, down 93.64 points, or 0.40 per cent, at 11:07 hours.