REC Dividend 2024 Record Date Fixed! 260 pc Returns in 1 Year; PSU Stock Declares 3rd Dividend
State-owned REC Limited has announced to reward shareholders with a third interim dividend by a 45 per cent for the financial year 2023-24. The announcement was made shortly after a board of meeting was held by the Maharatna company on Tuesday, March 19, 2024. The company has also fixed the record and the payment date for the third interim dividend to its shareholders. REC Limited, formerly Rural Electrification Corporation Limited, of which Power Finance Corporation Limited is holding company, which in turn is under the ownership of the Ministry of Power, the Government of India. It finances and promotes power projects across India.
REC Dividend 2024 Announcement News
Board of directors of the company at its meeting held on Tuesday, 19th March declared to reward its shareholders with a third interim dividend of 45 per cent per equity share. A dividend is always calculated on the face value of a stock and not on the market price. The face value of each stock of REC Ltd is Rs 10, which translates the dividend amount to Rs 4.50 per equity share of Rs 10 each for the financial year 2023-24.
REC Dividend 2024 Record Date in India
The company has fixed Thursday, March 28, 2024 as the record date to determine the eligibility of shareholders to receive the corporate action benefit.
REC Dividend Payment Date 2024
The third interim dividend will be paid on or before April 17, 2024, the company said in a statement.
REC Dividend History
| Ex-Date | Amount (Rs) |
| 28 March 2024 | Rs 4.50 |
| 13 Nov 2023 | Rs 3.50 |
| 14 Aug 2023 | Rs 3 |
| 14 July 2023 | Rs 4.35 |
| 9 Feb 2023 | Rs 3.25 |
REC Dividend Yield
The company has had a dividend yield of 3.30 per cent in the last 12 months, at the current levels.
REC Share Price NSE
REC share price was trading at Rs 426.90 per share, down by 2.14 per cent on the National Stock Exchange (NSE). It made an intraday high of Rs 438.55 apiece and a low of Rs 419.55 per share.
REC Share Price History
REC share price has delivered 70.09 per cent returns in the last 180 days. PSU stock moved north of 260 per cent, delivering multibagger returns in the last 365 days. In the last two years, it gave a whopping of 351.78 per cent returns, making investors richer with massive gains.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
