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This Navratna CPSE Stock Declares Final Dividend; Takes Dividend Yield For Fy 22 To 6.43%

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Power Grid company in its board meet held today apart from its results has also announced final dividend. Here are the details

 
This Navratna Stock Declares Final Dividend; Takes Dividend Yield To 6.43%

Dividend details of Power Grid

In the filing the Navratna company said, "it is informed that Board in its meeting held on 21st May, 2022 has recommended a final dividend of Rs. 2.25 per share (i.e. @ 22.50% on the paid up equity share capital} for the financial year 2021-22 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. The final dividend would be paid within 30 days from the
date of its declaration at the AGM. This final dividend is in addition to the 1st Interim Dividend of Rs. 7.00 per share (including Special Dividend of Rs. 3.00 per equity share) i.e. @ 70% on the paid up equity share capital paid on 11th January, 2022 and 2nd Interim Dividend of Rs. 5.50 per share (i.e. @ 55% on the paid up equity share capital) paid on 8th March, 2022 for the financial year 2021-22".

So, from the filing we gather, the company has declared Rs. 2.25 as the final dividend and the total dividend for the Fy 2022 comes to be Rs. 14.75 and considering the current share price of Rs. 229.05, would mean a good dividend yield of over 6%.

The company in the previous fiscal year announced dividend of 120% or Rs. 12 offering a dividend yield of 5.24%.

Power Grid financials: The company's total profit for the period has increased both sequentially as well as YoY to Rs. 4156.44 crore. Debt equity ratio has been held steady at 1.77.

 

"The Group is mainly engaged in the business of transmission of electricity and the tariffs for the transmission services are regulated in terms of the CERC Tariff Regulations which provide for recovery of the annual transmission charges based on system availability. Due to the continuing COVID-19 pandemic, various lockdowns were declared by the Central/ State Governments/ Local Authorities from time to time. However, as per the Government guidelines, transmission units and services were exempted from the said lockdown restrictions.

The Group has considered various internal and external information available up to the date of approval of financial results in assessing the impact of COVID-19 pandemic on the financial results for the year ended 31 March 2022 & there has been no material impact on the operations or profitability of the company during the year ended 31 March 2022. The Group will continue to monitor any material changes to future economic conditions", noted the company's filings.

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