Dividend Yield 3.03: Maharatna PSU Stock Declares Record Date For Dividend Payment

Shares of large cap Maharatna power sector company, NTPC Ltd saw a decline of 1.10% on BSE today despite the company declaring November 4, 2023 as record date for payment of dividend. The last trading price of NTPC share on BSE is Rs 239.30 per share.

Board of directors of NTPC will meet on October 28, 2023 to consider and approve un-audited Financial results of the company for the quarter and half year ended September 30, 2023. Interim dividend on the equity share capital of the company for 2023-24 may also be considered in the same meeting. Check details below:

NTPC Declares Record Date For Interim Dividend: According to the BSE filing of the company issued today, "Pursuant to Regulation 42 of the SEBI Listing Regulations, 2015, the Company has fixed Saturday, November 4, 2023 as the "RECORD DATE" for the purpose of ascertaining the eligibility of the shareholders for payment of interim dividend, if declared by the Board."

NTPC Dividend History: NTPC declared 39 dividends since Feb. 25, 2005. In last 12 months, NTPC announced an equity dividend amounting to Rs 7.25 per share. At the current share price of Rs 239.30, it offers a dividend yield of 3.03%, according to Trendlyne.

NTPC Stock Performance & Return: Last trading price of NTPC share on BSE is Rs 239.30 apiece. Its 52-week high price is Rs 251.50 per share and 52-week low price is Rs 161.20 apiece, respectively. The company's market capitalisation is Rs 2,32,041.22 crore as on October 19, 2023. NTPC shares fell 1.05% in last 1-week, offered gain of 24% in last 3-months, jumped 42% YTD, gave return of 46% in last 1-year, and rallied 192% in last 3-years, also the stock's highest rally when S&P BSE Power surged 176%.

NTPC Financials: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 43,390.02 crore, down 3.03% as against its last quarter total income of Rs 44,745.74 crore. It declared its recent quarter net profit after tax at Rs 4,228.01 crore.

ICICI Direct Recommends Buy Call: Brokerage firm ICICI Direct, in its report dated September 27, 2023, recommended buy call to NTPC shares with target price of Rs 300 apiece, indicating a return of 25.5% if investors buy NTPC shares at today's last closing price of Rs 239.30 apiece.

According to the analyst, "NTPC has set out an aggressive renewable capacity addition plan to the tune of 16000 MW over FY24-FY26, which will scale up the green portfolio of the company and lead to rerating of the stock. Per year addition of 4000-5000 MW of renewable capacity and strong growth in regulated equity in the conventional thermal portfolio. We estimate EBITDA and PAT to grow at 16.1%, and 16% CAGR respectively over FY23- 25E."

NTPC About: NTPC is India's largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India. 4, 2023 as the "RECORD DATE" for the purpose of ascertaining the eligibility of the shareholders for payment of NTPC became a Maharatna company in May 2010. As of January 2020, there are 10 Maharatnas CPSEs in India. NTPC is ranked No. 2 Independent Power Producer(IPP) in Platts Top 250 Global Energy Company rankings.

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.