REC Limited announced a fourth interim dividend of Rs 3.20 per share, with the record date set for March 20. The dividend will be paid on or before April 14. This marks the companys 45th dividend since 2008, with a 12-month equity payout of Rs 20 per share.

REC declares Rs 3.20/share dividend. Check record date, dividend yield

Synopsis

REC Limited announced a fourth interim dividend of Rs 3.20 per share, with the record date set for March 20. The dividend will be paid on or before April 14. This marks the company’s 45th dividend since 2008, with a 12-month equity payout of Rs 20 per share.

PSU power company REC Limited on Monday declared a fourth interim dividend of Rs 3.20 per share and set Friday, March 20, as the record date to determine the shareholders who will be eligible for the payment.

The payout is scheduled to be done on or before April 14.

The decision was taken during the company's board meeting, and the announcement was made during market hours. Its shares were trading with a minor uptick at Rs 332.65 on the NSE.

One of the top dividend-paying stocks, REC, has declared 45 dividends since September 8, 2008. In the past 12 months, REC has declared an equity dividend amounting to Rs 20 per share, according to Trendlyne data. At the current share price, REC's dividend yield is 6%.

The dividend was announced amid a lacklustre performance by REC's shares, which have fallen 18% in the past 12 months. The stock's significant underperformance comes as markets have remained wobbly, initially because of tariff-related concerns and now the Iran-Israel war that has entered its third week.

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Nifty has managed to remain 3% up over a 1-year period, while the BSE Sensex is maintaining a 1% lead in the same period.

The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 359 and Rs 373, according to Trendlyne data.

REC posted a 15% year-on-year (YoY) increase in its net profit to Rs 11,574.25 crore in the December-ended quarter as against Rs 10,066.31 crore reported in the same quarter last year.

The company's total revenue from operations is reported at Rs 41,033.01 crore for the period ended December 31, 2024, compared to Rs 34,827.57 crore for the same period last year. This represents a year-over-year increase of approximately 17.81%.

Further, REC’s total income, which includes other income in addition to revenue from operations, reached Rs 41,085.66 crore, up from Rs 34,864.57 crore in 2023.

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In addition to the quarterly results, REC has also approved a third interim dividend of Rs 4.30 per share for the financial year 2024-25 and has fixed February 14 as the record date to determine shareholder eligibility.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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