Maharatna PSU Stock Under Rs 210 Sets Record Date For Dividend, Up 108% In 3-Yrs

Maharatna Power sector PSU stock Power Grid Corporation Of India today fixed November 16, 2023 as the record date for interim dividend, if approved. The board of directors of Power Grid Corporation will hold a meeting on November 7, 2023 to consider and approve Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2023 and interim dividend. Last trading price of Power Grid Corporation share on BSE is Rs 199.50 apiece. Power Grid Corporation stock rallied 24% YTD and surged 108% in last 3-years. Check details below:

Q2 Results, Interim Dividend To Be Considered, Approved On November 7: As per today's BSE filing, "In terms of Regulation 29 (1) (a) & (e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that a Meeting of Board of Directors of POWERGRID is scheduled to be held on Tuesday, 7th November, 2023 to consider and approve amongst other items of Agenda, the Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2023 after these results are reviewed by the Audit Committee and the declaration of Interim Dividend out of the profits of the Company for the FY 2023-24."

Record Date For Dividend: The BSE filing further stated, "Further, pursuant to Regulation 42 of the SEBI (LODR), 2015, it is informed that the Company has fixed Thursday, 16th November, 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 of Directors."

The company earlier announced 1:3 bonus issue (ex-bonus date was September 12, 2023) and final dividend of Rs 4.75 (ex-dividend date was August 8, 2023.)

Power Grid Corporation Stock Performance & Return: Last trading price of Power Grid share on BSE is Rs 199.50 per share with intraday fall of 0.05%. The stock's 52-week high price is Rs 208.90 per share and 52-week low price is Rs 153.34 per share, respectively. It has a market capitalisation of Rs 1,85,547.05 Crore. Power Grid share offered shareholders return of 14% in last 6-months, surged 38% in last 2-years, and soared 108% in last 3-years. Power Grid Corporation stock rose 86% in last 5-years.

Power Grid Corporation Financials: 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 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.