REC declares Rs 5/share interim dividend; fixes record date

Navratna PSU REC declared an interim dividend of Rs 5 per share for FY23. The company’s board on Thursday, on the sidelines of the Q2 result announcement, declared an interim dividend of Rs 5/per equity share on Rs 10/- each for the financial year 2022-23, according to the company’s release to the exchange today.

The company fixed the record date as November 9 For the said dividend, while the payment date was fixed on November 24.

“Further, the record date for the said interim dividend is Wednesday, November 9, 2022, and the said interim dividend shall be paid/dispatched on Thursday, November 24, 2022, to those shareholders whose names appear as beneficial owners in the statement furnished by the depository as on the close of business hours on Wednesday, November 9, 2022, in respect of shares held in electronic form; and (b) as members in the register of members on
Wednesday, November 9, 2022, in respect of physical shares”, added the company’s release.

Shares of REC command a high dividend yield. The company in the last FY offered a dividend of Rs 15.3 per share, which at the current share price of Rs 96.5, translates into a high dividend yield of 15.81%.

REC shares ended over 2% higher at Rs 96.60 apiece on the NSE.