174% return in 1 year: This PSU stock announces interim dividend of Rs 3.50 - Details

REC Dividend Record Date, REC Dividend History: REC Limited, formerly Rural Electrification Corporation Limited, has announced a second interim dividend and also announced the payment date for the same. A day after the announcement jumped over 7 per cent to trade at Rs 303 in the early trade. The scrip had closed at Rs 282.85 in the last trading session. Last seen, the scrip was trading at Rs 303.24, very close to its 52-week high. 

REC Limited Dividend Record Date

REC Limited has approved an interim dividend of Rs 3.50 per equity share with a face value of Rs 10. 

The board of directors of the company has fixed November 13, 2023, as the record date for the interim dividend. 

REC Limited Dividend Payment Date

As per the exchange filing, the company has fixed November 30 as the date for the payment of the interim dividend.

"Declaration of 2nd interim dividend @ 3.50 (Rupees Three and Paise Fifty only) per equity share of Rs 10/- each for the financial year 2023-24. Further, the record date for the said interim dividend is Monday, November 13, 2023 and the said interim dividend shall be paid on or before November 30, 2023," the company said in an exchange filing.

REC Limited Dividend History

REC Limited has declared 34 dividends since September 8, 2008. In the past 12 months, REC Ltd announced an equity dividend amounting to Rs 15.60 per share. At the current share price of Rs 282.85, it offers a dividend yield of 5.51 per cent. 

Meanwhile, shares of REC Limited have gained over 174 per cent in the last year against a 4.04 per cent return generated by BSE Sensex and a 7.08 per cent northward move in S&P BSE Financial Services.

REC, a Maharatna Central Public Sector Undertaking under the Ministry of Power, is a leading infrastructure finance company. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through its extensive network of 22 offices across the country.