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3 Large-Cap Companies Fix Record Date For Dividend

Three large cap companies namely Reliance Industries Ltd, Coal India Ltd, and Power Grid Corporation of India Ltd have fixed record date for dividend payment.

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Three large cap companies namely Reliance Industries Ltd, Coal India Ltd, and Power Grid Corporation of India Ltd have fixed record date for dividend payment. Reliance Industries has a market capitalization of 1,736,795 crore, Power Grid's market capitalization is recorded at 154,785 crore, and Coal India's market capitalization is 1,32,745 crore. Check key details below pertaining to dividend amount and record date:

1. Reliance Industries Ltd
 

1. Reliance Industries Ltd

The board of directors of the company have stated in their regulatory filing dated August 6, 2022, "This is to inform that the Forty-fifth Annual General Meeting (Post-lPO) ("AGM") of the Members of the Company will be held on Monday, August 29, 2022 at 2:00 P .M. (IST) through Video Conferencing ("VC") / Other Audio Visual Means ("OAVM"), in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The Company has fixed Monday, August 22, 2022 as the "Cut-off Date" for the purpose of determining the Members eligible to vote on the resolutions set out in the Notice of the AGM and to attend the AGM. The Company has fixed Friday, August 19, 2022 as the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2021-22." The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM.

Earlier, Reliance Industries declared an equity dividend of 80% or Rs 8 per share for the year ending March 2022. The company has a dividend yield of 0.31%. The company has been maintaining a good dividend track record and regularly announced dividend in the last 5 years. The stock has given a return of 220% in last 5 years, 122% in last 3 years, and 23% in last 1 year.

The current market price of the stock of RIL is Rs 2,566 apiece on BSE with a gain of 1.30%. The 52-week high of the stock is Rs 2855 apiece and 52-week low is Rs 2065 apiece.

Reliance Industries Limited is a Fortune 500 company and the largest private sector corporation in India. Reliance's products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.

2. Power Grid Corporation of India Ltd

2. Power Grid Corporation of India Ltd

The board of directors of the Maharatna company in ther BSE filing stated, "Pursuant to Regulation 42 of SEBI (Listing Obligations and DisClosure Requirements) Regulations, 2015, it is to inform that the Company has fixed the record date/cut off date as 22nd August, 2022 for determining the entitlement of the members for payment of final dividend on equity shares and for the purpose of 33rd Annual General meeting of the company."

The company earlier on May 21, 2022 announced, "Further, in terms of Regulation 30 & 43 of SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015, 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."

The current market price of the stock is Rs 221 apiece with a 52-week high of Rs 248 apiece and 52-week low of Rs 170 apiece. The stock has given a return of 26% in 1 year, 45% in 3 years, and 32% in 5 years.

Power Grid Corporation of India Limited(POWERGRID), is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. POWERGRID is a listed Company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public.

3. Coal India Ltd

3. Coal India Ltd

The board of directors of the company has stated in their BSE filing, "4) The Company has fixed Friday, August 12,2022 as the "Record Date" for the Purpose of determining the Members eligible to receive Final Dividend for the Financial Year 2021-22. The dividend, if approved at the AGM will be paid on and from September 7, 2022. "

The public sector company is scheduled to pay a final dividend of 30% or Rs 3 per equity share for Financial Year 2022. The face value of Coal India shares is Rs 10 each.

The current market price of the stock is Rs 215 apiece with a 52-week high of Rs 217 apiece and 52-week low of Rs 132 apiece. The stock has given a return of 47% in 1 year, 1.68% in 3 years, and negative 12% in 5 years.

Coal India Limited (CIL) the state owned coal mining corporate came into being in November 1975. With a modest production of 79 Million Tonnes (MTs) at the year of its inception CIL today is the single largest coal producer in the world and one of the largest corporate employer with manpower of 272445 (as on 1st April, 2020). CIL functions through its subsidiaries in 84 mining areas spread over eight (8) states of India. Coal India Limited has 352 mines (as on 1st April, 2020) of which 158 are underground, 174 opencast and 20 mixed mines.

 

Story first published: Monday, August 8, 2022, 20:11 [IST]
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