Multibagger Dividend Stock: NHPC shares drop around 5% as stock trades ex-dividend today

NHPC Dividend, NHPC Share Price: Shares of Indian public sector hydropower company NHPC fell around 5 per cent in the opening session today i.e. on February 22. The multibagger stock opened at Rs 92.40 and went on to fall around 4.41 per cent to touch an intraday low of Rs 88.60 on the BSE.

The shares of NHPC, which has a market cap of 90,395, have been losing for the last three days.

Earlier, the company posted a 19 per cent fall in consolidated net profit for the December quarter. 

The company, in a regulatory filing, said that it has posted a 19 per cent fall in consolidated net profit to Rs 628.44 crore for the quarter due to higher expenses.

The hydro-power producer had reported a net profit of Rs 775.99 crore in the October-December period of 2022-23, the company said.

The company's total income also fell to Rs 2,549.69 crore in the quarter from Rs 2,691.34 crore a year ago, it added.

NHPC Dividend

Meanwhile, the board of the company has approved an interim dividend of Rs 1.40 or 14 per cent per equity share of the face value of paid-up equity shares of Rs 10 each for the financial year 2023-24. 

NHPC Dividend Record Date

The counter is trading ex-dividend today as the company fixed February 22 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of interim dividends.

NHPC, under the Ministry of Power, is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydro projects.