32.50% Dividend By Maharatna PSU Stock: 5th September - Payment Date; Buy By Record Date?

Power Finance Corporation (PFC)., a Schedule-A Maharatna CPSE and one of the nation's top non-banking financial corporations was founded on July 16th, 1986. The Ministry of Power has administrative authority over PFC. PFC's shares wrapped up 3.83% higher on the BSE on Wednesday at Rs 492.25 a share following the release of the Board of Directors' quarterly results for Q1FY25, which featured a 32.50% dividend recommendation.

PFC Dividend

The Board of Directors considered and approved the "Declaration of interim dividend @32.50 % Rs. 3.25/- (Rupees Three and twenty five paisa only) per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of U0/- each for the FY 2024-25. Further, it is to inform that 30.08.2024 (Friday) shall be reckoned as the 'Record Date' for the purpose of ascertaining the eligibility of shareholders for payment oflnterim Dividend for the FY 2024-25. The date of payment /dispatch of the aforesaid interim dividend shall be on or before 05.09.2024," said Power Finance Corporation in a stock exchange filing on 06.08.2024.

PFC Q1 Results

For the April-June quarter of 2024-25, the state-owned Power Finance Corporation (PFC) recorded a roughly 24% rise in standalone net profit, coming in at Rs 3,718 crore. According to a stock exchange declaration, the company declared a profit of Rs 3,006.9 crore for the same period last year. Net interest income (NII) for the firm jumped by 23.5% to Rs 4,328 crore for the quarter under review, compared to Rs 3,503.3 crore in the same period last year.

On a consolidated basis, PFC reported a net revenue of Rs 24,716.76 crore in June 2024 quarter up 17.74% from Rs. 20,992.49 crore in June 2023 quarter. Its consolidated net profit stood at Rs. 5,543.14 crore in Q1FY25 up 21.13% from Rs. 4,576.32 crore in Q1FY24 while EBITDA reached Rs. 24,425.38 Cr on a consolidated basis during the quarter review as against Rs. 21,082.62 Cr in the year-ago quarter.

PFC Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "PFC is currently in a sideways phase, with the stock forming lower highs and lower lows on the daily chart. The stock is currently trading near 486 levels, close to its support zones Investors should watch for signs of a reversal at these support levels before considering new long positions. If PFC manages to maintain its position above Rs 525, it may advance toward higher levels in the Rs 565-Rs 580 range. Conversely, a breach below the support levels could lead to additional profit booking and extended declines. The RSI is currently around 38, indicating a potential reversal and suggesting that the stock may find support at these levels."

"Additionally, PFC is trading below its key moving averages, including the short-term (20-day) EMA and the medium-term (50-day) EMA, which implies resistance at higher levels. Monitoring price action closely around these critical levels will be essential for making informed investment decisions. Given the current technical indicators and price action, if PFC shows signs of a reversal from these levels, investors may consider buying with a stop loss set at Rs 470 on a closing basis," the analyst recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.