220% DIVIDEND STOCK: This power company fixes record date and payment date

Torrent Power Dividend 2023, Torrent Power Interim Dividend: Torrent Power has announced paying dividend to its shareholders. The company while releasing its Q3 results on Wednesday, said that the board has approved its first interim dividend for the current fiscal.

Torrent Power in an exchange filing said that it will pay an interim dividend of Rs 22 inclusive of Rs 13 per equity share as a special dividend for each share having a face value of Rs 10.

"Interim Dividend for FY 2022-23 of Rs 22 per equity share (including Rs 13 per equity share as a special dividend) on 48,06,16,784 equity shares of Rs 10/- each," the company informed the exchanges in a filing.

Torrent Power Dividend 2023 Record date

Torrent Power board has also fixed the record date for determining the eligibility of shareholders for the payment of the dividend. Torrent Power's dividend record date is February 22.
"...maintained by the Depositories as on the Record Date i.e. Wednesday, February 22, 2023 fixed for the purpose," the company's exchange filing read. 

Torrent Power Dividend 2023 Payment Date

The dividend amount will be credited directly into the shareholders' bank account linked to their Demat account on the payment date. The payment date shall be March 9.

"The said dividend will be remitted on or after March 09, 2023 to the Equity Shareholders of the company," the company's exchange filing read. 

Torrent Power Dividend History

Torrent Power Share Price Target 

​According to HDFC Securities, the power sector so far reported better earnings growth, owing to the strong generation growth and improved coal availability. The brokerage maintained an ‘add’ rating on Torrent Power for a price target of Rs 552.

Torrent Power Share Price

On Wednesday, Torrent Power shares finished at Rs 504.00, zooming 10.28 per cent. At current market levels, Torrent Power has a market cap of 24.21 thousand crore.

Click Here For Latest Updates On Stock Market | Zee Business Live