BEML, IRCON, SJVN: 5 PSU Stocks To Announce Interim Dividends In Trading Week From Feb 5-10; Record Dates Set

A total of five PSU companies are set to declare new rewards for its shareholders for FY24, in the trading week from February 5th to 10th. These will be in the form of interim dividends. The stocks in focus belong to diverse segments like railways and powers. They are BEML, IRCON International, PFC, Power Grid and SJVN. The companies will also declare their Q3 earnings. Majority of these stocks touched new 52-week highs.

In general terms, dividends are distributed also in a certain proportion by listed companies from their net profits earned in a respective financial year. The record date is proposed by the listed company's board of directors to determine the name of the eligible shareholders for dividends. As per BSE FAQs, to be eligible to receive dividends, investors have to have shares in the Demat account by record date. Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.

1. BEML Dividend:

BEML's share price ended the latest trading week with a big bang as it touched a new 52-week high of Rs 4,139.40 apiece on Friday. The stock ended however at Rs 3,831.30 apiece, up by 0.41% with a market cap of Rs 15,955.26 crore.

In the trading week from January 29 to February 2nd, the stock price has rallied by over 17% on BSE.

As per the regulatory filing, the Board Meeting of the company is scheduled to be held on February 8, this is to inform you that the declaration of interim dividend for the Financial Year 2023-24 on equity shares will also be considered by the board in addition to businesses informed earlier.

For the upcoming dividend, the company fixed February 16 as the record date to determine eligible shareholders. It will also be the ex-dividend date.

In 12 months, the company delivered a 100% dividend amounting to Rs 10 per share.

BEML was established in May 1964 as a Public Sector Undertaking for the manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex.

2. IRCON International Limited Dividend:

IRCON share price ended at Rs 232.60 apiece, up by 1.75% on BSE after market hours of Friday. Its current market cap is at Rs 21,876.40 crore.

In its regulatory filing, IRCON revealed that its board members will meet on February 9 to consider Q3 results and declaration of interim dividend, if any, for FY24.

Just like BEML, IRCON also fixed its record date on February 16.

In the last 12 months, IRCON paid dividends up to 150% dividend amounting to Rs 3 per share.

Also, backed by Railways, IRCON focuses on the construction of roads, bridges, railways, airports, airport runways, and residential, industrial, and commercial buildings. It also provides services such as railway electrification, leasing of locomotives and passenger cars, and signals and telecommunications installations.

3. Power Finance Corporation Dividend:

Ahead of dividend announcements, PFC shares ended at Rs 450.65 apiece, up by 1.09% on BSE with a market cap of Rs 1,48,719.09 crore after market hours of Friday, The stock also touched a new 52-week high of Rs461.45 apiece.

According to the regulatory filing, the PFC board of directors will also meet on February 8 to consider and approve Q3 results. Apart from this, it is known that PFC may also declare an interim dividend.

PFC has paid dividends up to 125% amounting to Rs 12.5 per share in 2023.

PFC is a Schedule-A Maharatna CPSE and is a leading Non-Banking Financial Corporation in the Country. PFC plays a crucial role in the rise of India as a global player. Increasingly, a country's development is gauged by measuring its energy usage. With a large fraction of our nation still, unfortunately, without any access to electricity, PFC will become an increasingly important factor in the years to come.

4. Power Grid Corporation of India Dividend:

This PSU stock in the power segment also touched a new 52-week high of Rs 281.45 apiece on Friday before ending at Rs 276.70 apiece up by 4.10% with a market cap of Rs 2,57,347.71 crore.

Power Grid has announced that its board will meet on February 7, 2024, to consider and approve amongst other items of the Agenda, the Unaudited Financial Results of the Company for the quarter and nine months ended 31st December 2023 after these results are reviewed by the Audit Committee and the declaration of 2nd Interim Dividend out of the profits of the
Company for the FY 2023-24.

For the second interim dividend, Power Grid has fixed February 15 as the record date to ascertain the eligibility of the Shareholders for payment of Interim dividends, if declared, by the Board of Directors.

Last year, the company paid dividends up to Rs 13.75 per share to its shareholders.

POWERGRID is mainly engaged in the business of transmission of power through its EHVAC/HVDC transmission network. The company has diversified into the telecom business by leveraging its Pan India transmission network through the stringing of optical ground wire(OPGW).

5. SJVN Dividend:

SJVN shares witnessed a huge rally on Friday as the stock touched a new 52-week high of Rs 146.30 apiece on BSE during the trading session of February 2nd, before ending at Rs 142.25 apiece, up by 11.6% with a market cap of Rs55,901.34 crore.

In its regulatory filing, SJVN said that the Board of Directors is scheduled to be held on Friday, 9th February 2024, inter-alia, to consider and approve the financial results of the Company for the quarter ended 31st December 2023 and interim dividend for the FY 2023-24, if any.

For the upcoming dividend payout, the company is yet to announce its record date. In the last 12 months, SJVN shares paid up to 17.70% dividend amounting to Rs 1.77 per share.

Miniratna SJVN aims to be a 5000 MW company by 2023-24, 25000 MW company by 2030 and 50000 MW company by 2040. Presently, the total project portfolio of SJVN is 56,894.4 MW, out of which 2151.5 MW is under operation, 4378 MW is under Construction, 12803 MW is under Pre-construction and S&I stage and 37,562 MW capacity Projects are under allotment.