Board Of Maharatna Company Approves Payment Of Interim Dividend: Payment Date Fixed

Board of Power Grid Corporation Of India Ltd has approved payment of interim dividend on November 5, 2022. It has a dividend yield of 6.52%. The company has a market capitalisation of Rs 1,57,749.87 crore. Power Grid Corporation Of India is a "Maharatna" Central Public Sector Enterprise.

India's principal electric power transmission company. The company is engaged in the transmission of bulk power across various stated of India. Power Grid owns and operates 90% of country's interstate and inter-regional electric power transmission system. Check key takeaways below:

1. Power Grid Corporation Of India Approves Interim Dividend

The board of directors of the Maharatna company said in the regulatory filing, "In terms of Regulation 30 and 43 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is also informed that the Board of Directors, in their Meeting held today i.e. on 5th November, 2022, have approved the payment of Interim Dividend of Rs. 5/- per equity share of Rs. 10/- each (@50% of the paid-up equity share capital) for the Financial Year 2022-23."
The Interim Dividend shall be paid to the Members on 30th November, 2022.

2. Power Grid Corporation Of India Stock Outlook

The last trading price of Power Grid Corp is Rs 226 apiece, respectively. The 52-week high is Rs 248 apiece and 52-week low is Rs 180 apiece, respectively.

3. Power Grid Corporation Of India Dividend History

The company has been maintaining a good dividend history and regularly declared dividend in the last 5-years. The Power sector stock declared an equity dividend of 147.50% or Rs 14.75 per share for the year ending March 2022.

4. Power Grid Corporation Of India Return

The stock has given a return of 44% in the last 5-years, 55% in last 3-years, and 22% in last 1 year. In last 1-month only, the stock has jumped 8%.

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