Dividend stock: PSU multibagger to give Rs 4.5/share payout, to trade ex-date next week
Dividend stock: State-owned REC has declared a third interim dividend for the financial year 2023-24. The PSU stock will trade ex-date on Thursday, March 28.
Dividend stock: State-owned REC's shares are all set to trade ex-dividend next week, as the Maharatna PSU has announced a third interim dividend for the current financial year.
During market hours on Tuesday, infrastructure finance company REC announced the dividend of Rs 4.5 per equity share of the face value of Rs 10 per share.
The stock will trade ex-dividend on March 28.
REC dividend 2024 record date
The REC had fixed March 28 as the record date for the dividend.
REC dividend dividend payment date
The company said the interim dividend will be paid on or before April 17, 2024.
"Further, as earlier informed, the record date for the said interim dividend is Thursday, March 28, 2024 and the said interim dividend shall be paid on or before April 17, 2024 to those shareholders, whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as on the close of business hours on March 28,2024 in respect of shares held in electronic form; and (b) as members in the register of members on March 28, 2024 in respect of physical shares," the filing added.
REC dividend history
Since September 8, 2008, REC has announced 36 dividends.
As of March 20, REC has announced equity dividends amounting to Rs 10.85 per share in the past year, according to data from equity research portal Trendlyne.
REC dividend yield
At the current market price, REC's dividend yield stands at 2.53 per cent.
What is a dividend yield?
A dividend yield is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price. It is calculated by dividing the annual dividend per share by the stock price per share.
A high dividend yield indicates that a company is returning a significant portion of its profits to shareholders.
It is an important metric for income investors as it helps them assess the potential returns from owning a particular stock.
REC share price history: Past performance
REC shares have gained nearly 270 per cent in the past year, sharply outperforming a rally of over 28 per cent in the headline Nifty 50 index.
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