Dividend stock: REC shares trade volatile ahead of board meeting

REC dividend 2024 record date, REC share price: Shares of state-owned REC traded volatile on Monday, March 18, ahead of the Maharatna company's board meeting, which is scheduled for tomorrow, March 19, to consider the declaration of the company's third interim dividend.

REC shares traded 0.44 per cent lower at Rs 444.75 on the NSE. The stock has traded in the range of Rs 454.7 to Rs 440.55 so far on the NSE. 

The regulatory filing of Maharatna status REC dated March 15 said, "With reference to our earlier intimation dated March 5, 2024, this is to inform that the meeting of the Board of Directors of REC Limited, which was earlier scheduled to be held on Saturday, March 16, 2024, has been postponed due to unavoidable circumstances and will now be held on Tuesday, March 19, 2024."

"As earlier informed, the proposal related to the declaration of the 3rd interim dividend, if any, for the financial year 2023–24 will, inter alia, be considered at the board meeting to be held on March 19, 2024," it added.

REC dividend 2024 record date expected

The company has fixed Thursday, March 28, as the record date for the purpose of ascertaining the eligibility of the shareholders for payment of said interim dividend if declared.

REC dividend history

REC has announced 36 dividends since September 8, 2008. In the past 12 months, REC has announced an equity dividend amounting to Rs 10.85 per share, according to data from equity research portal Trendlyne.

REC dividend yield

At the current levels, REC's dividend yield stands at 2.43 per cent.

REC share price history: Past performance

REC shares have gained over 280 per cent in the past year, sharply outperforming a rally of nearly 30 per cent in the headline Nifty 50 index. It has grown nearly 4.5 times over a period of five years.