REC Ltd Approves Interim Dividend Of Rs 5 Per Share, Also Fixes Record Date, Details Inside

REC Ltd. is a Navratna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company with a net worth of over Rs 50,000 crore as on 31st March 2022. COmpany's business activities involve financing projects in the complete power sector value chain.

In its meeting held on October 27, 2022, the Board of Directors of REC Limited declared an interim dividend of Rs. 5 per equity share for the fiscal year 2022-23. Furthermore, the record date for the interim dividend is Wednesday, November 9, 2022, and the interim dividend will be paid/dispatched on Thursday, November 24, 2022.

According to the Board of Directors of REC Ltd. in its regulatory filing, "Declaration of interim dividend @ ₹ 5/- (Rupees Five only) per equity share of ₹ 10/ - each for the financial year 2022-23. Further, the record date for the said interim dividend is Wednesday, November 9, 2022 and the said interim dividend shall be paid/ dispatched on Thursday, November 24, 2022 to those shareholders whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as on the close of business hours on Wednesday, November 9, 2022 in respect of shares held in electronic form; and (b) as members in the register of members on Wednesday, November 9, 2022 in respect of physical shares."

The current market price of the stock on NSE stood at Rs 96.50 per share, 2.22% up as compared to its previous close. In terms of returns on investments, the stock has given a positive return of 3.04% in the past one week. The stock in the past 1 year gave 17.6% negative returns, in 3 years 5.29% negative returns and in 5 years 25.8% negative returns, respectively.