After 1:3 Bonus Issue Multibagger PSU Maharatna To Consider Dividend On March 16

Board of directors of Maharatna public sector undertaking REC Ltd on Tuesday informed about its upcoming meeting of Board of Directors to consider 3rd interim dividend for financial year 2023-24. Last trading price of REC Ltd shares on BSE is Rs 464.95 apiece with intraday rally of 0.04%.

REC shares offered attractive return of 294% in last 1-year span and gained 93% in last 6-months. Check details below:

REC Ltd To Consider Dividend On March 16, 2024: As per the regulatory filing of the company issued post market hours, "In terms of Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , this is to inform that a meeting of the Board of Directors of REC Limited will be held on Saturday, March 16, 2024 inter-alia to consider the proposal for declaration of 3,d Interim Dividend, if any, for the financial year 2023·24."

REC Dividend & Bonus History: REC announced 35 dividends since September 8, 2008.In the past 12 months, REC announced an equity dividend amounting to Rs 10.85 per share. At the current share price of Rs 464.9500, REC's dividend yield is 2.33%.

REC offered 2 bonuses since September 28, 2016. The last Bonus that REC declared was in the ratio 1:3 with ex-bonus date as August 17, 2022, according to Trendlyne.

REC Shares Performance & Return: The 52-week high price of REC shares on BSE is Rs 524.00 apiece and 52-week low price is Rs 113.15 apiece, respectively. The state-run company has a market capitalisation of Rs 1,22,431.75 crore. REC shares gained 401% in last 2-years, jumped 333% in last 3-years, and soared 331% in last 5-years. REC has a PE of 9.42 and ROE of 20.60.

REC Financials: The PSU declared 18% growth in its Net Interest Income (NII) to Rs 4,159 crore for the October-December period. Its net profit for the December 2024 quarter soared by 14% from last year to Rs 3,269.3 crore. The Maharatna's asset quality bettered sequentially, with gross NPA improving to 2.78% from 3.14% in September. Net NPA declared at 0.82% from 0.96% in the previous quarter. Its quarterly disbursements stood at Rs 46,358 crore, up 56% from last year.

About REC Ltd: It is a Maharatna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of 22 offices across the country. REC came into existence in 1969 to articulate a response to the pressing exigencies of the nation.

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