Maharatna Stock Declares Rs.3.5 Dividend; Record Date On Nov 25, Posts 9% Profit Growth For Q2

Large cap, state-owned, Power Finance Corporation Ltd. (PFC), a major non-banking financial company (NBFC) under the Ministry of Power, has announced the second interim dividend for the financial year 2024-25. The announcement was made during the company's board meeting held on November 8, 2024, coinciding with the release of its Q2 FY 2024-25 results.

Dividend Announcement Details

In its exchange filing dated November 8th 2024, Power finance corporation announced the rollout of 2nd interim dividend Of Rs. 3.5 per equity share which is 35% with a face value of Rs.10 per share for the fiscal year.

The record date for the dividend has been set to 25th November 2024. The company in its recent announcement on the BSE said," It is to inform that 25.11.2024 (Monday) shall be reckoned as the Record Date' for the purpose of ascertaining the eligibility of shareholders for payment of 2nd interim Dividend for the FY 2024-25."

The payment of this dividend is scheduled to be completed on or before December 8, 2024 according to the company's official press release.

Power Finance Corporation Q2 Results and Share Price Performance

The company also released its Financial results for the second quarter of FY 2024-25 along with the dividend announcement. The company reported fairly good results this quarter As per a report from Business Standard, "Power Finance Corporation, recorded a 9% growth in its consolidated net profit in the Q2 reached Rs. 7,214.90 crore marking an increase from Rs. 6,628.17 crore reported during the same quarter of the previous fiscal year (FY24), as per its BSE filing. The rise in profits is attributed mainly to increased revenue, with the total income climbing to Rs. 25,754.73 crore, compared to Rs. 22,387.32 crore in the year-ago period."

The company's shares have shown strong performance in the market lately. As of November 18, the shares are currently trading at Rs.464.65, with a 2.19% gain compared to the previous Friday's closing price. Over the past 52 weeks, the stock has seen volatility, peaking at a high of Rs. 580 and dropping to a low of Rs. 306 due fluctuations in market sentiment over the year.

Impressive Returns for Investors

Power Finance Corporation (PFC) has been providing impressive returns for its investors in recent years, amid strong performance in the market. Despite a slight setback in the past six months, where the share price dipped by 1.49%, the overall trend remains positive. The year-to-date performance has been notably strong, with the stock appreciating by nearly 17%.

Looking at a broader timeframe, PFC stocks over the last five years, have delivered a staggering return of 388%. Since its initial listing on the stock exchanges, share price has experienced exponential growth, soaring by an impressive 932% over the span of 17 years.

Company overview:

Power Finance Corporation (PFC) is a prominent public sector enterprise, classified as a Schedule-A Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, Government of India. The company began operations on July 16, 1986 and it has been providing financial support to the power sector in India .Over the years, it has established itself as a major NBFC, specializing in financing projects related to power generation, transmission, and distribution projects across the country.