This multibagger power stock announces interim dividend – check record date, payment date

Dividend Stock: CG Power and Industrial Solutions – a power generation and distribution company – on Thursday announced an interim dividend to its shareholders for this fiscal. A dividend is generally paid by a company to its shareholders as a reward for investment in the business.

Dividends can be seen as a steady income from the investments made in the company. Besides, dividend stocks can also have a tax advantage for the shareholders as dividends are non-taxable until investor sells stocks from his portfolio.

CG Power in its filing on Thursday said, “The Board of Directors of the company have approved the payment of interim dividend at Rs. 1.50 per equity share that is 75 per cent on face value of Rs 2 per share for the current financial year.”

CG Power Interim Dividend 2023: Record Date

CG Power has fixed “the record date for determining the members eligible to receive aforesaid interim dividend is Wednesday, 15th March, 2023.”

What is Record Date and why it’s important?

The determination of record date is required to ascertain who exactly a company's shareholders are as of that date, since shareholders of an actively traded stock are continually changing.

The shareholders of record as of the record date will be entitled to receive the dividend or distribution, declared by the company.

CG Power Interim Dividend 2023: Payment Date

While the interim dividend will be paid on or after March 29, 2023, but within 30 days from the declaration of Dividend.

CG Power Share Price NSE

CG Power is a mulitbagger stock as shares of this power generation and distribution company jumped 5 times in the last two years. To put in perspective, Rs 1 lakh rupees could have become today Rs 5 lakh if an investor had invested in the stock two years ago.

In the last one year, CG Power shares have gained more than 77 per cent as compared to a nearly 6 per cent rise in the Nifty50. The scrip grew by 37 per cent in the last six months and has declined by over 2 per cent in the last one month.