Power Grid Corporation dividend: Board announces 47.5% payout

Power Grid Corporation Q4 Results: Power Grid Corporation on Friday announced a final dividend of Rs 4.75 per equity share of the face value of Rs 10 each for the year ended March 31, 2023, i.e., a 47.50 per cent payout.

"It is informed that the board in its meeting held on 19th May 2023 has recommended a final dividend of Rs 4.75/- per share (i.e. @ 47.5% on the paid-up equity share capital) for the Financial Year 2022-23 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company," the company said in a stock filing.

This final dividend is in addition to the first and second interim dividends of Rs 5 each for the financial year 2022-23. 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 5 per share i.e. @ 50 per cent on the paid-up equity share capital paid on 30th November 2022 and 2nd Interim Dividend of Rs. 5/- per share (i.e. @ 50% on the paid-up equity share capital) paid on 24th February 2023 for the Financial Year 2022-23," the company further said in the filing.

Power Grid Corporation's March 2023 result

The Maharatna company under the Ministry of Power on Friday posted nearly 4 per cent rise in consolidated net profit Year-on-Year at Rs 4,320.43 crore in the March 2023 quarter, mainly on the back of higher revenues.

Its total income in the quarter under review jumped to Rs 12,557.44 crore from Rs 11,067.94 crore in the same quarter last year, according to a stock market filing.

In the financial year 2022-23, the consolidated net profit decreased to Rs 15,417.12 crore from Rs 16,824.07 crore in FY22.

Power Grid Corporation share price history

Power Grid Corporation shares on Friday ended at Rs 233.80 each, down 0.64 per cent or Rs 1.50 on BSE. The company's stock has given a positive return of nearly 7 per cent in the last six months and nearly 9 per cent on a YTD basis (year-to-date).