REC (Rural Electrification Corporation ltd) posts 66% jump in net profit at Rs 2,197 cr in September quarter.
Its consolidated net profit had stood at Rs 1,322.47 crore in the corresponding quarter of the previous financial year, according to a BSE filing.
The company’s total income during July-September 2020 rose to Rs 8,822.10 crore, from Rs 7,659.30 crore in the year-ago period.
The board has approved payment of interim dividend of Rs 6/- per equity share.
The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, has being fixed as Tuesday, November 17, 2020.
|REC Dividend Type||INTERIM|
|REC Dividend Price||Rs. 6/-|
|REC Dividend Announcement Date||06.11.2020|
|REC Dividend Ex-Dividend Date||16.11.2020|
|REC Dividend Record Date||17.11.2020|
|REC Dividend (%)||60%|
|REC Dividend Payment Date||03.12.2020|
|REC Quarterly Result||September Q2|
|Face Value (FV):||10|
|Board Meeting held on||06.11.2020|
REC Dividend Important Dates
|REC Dividend Price||Rs. 6/- per equity share|
|REC Dividend Record Date||17th November 2020|
|REC Dividend Payment Date||December 3, 2020|
REC ( Rural Electrification Corporation LTD ) Dividend History
|Announcement||Record Date||Dividend Type||Dividend %||Dividend Price|
About REC ( Rural Electrification Corporation LTD )
REC came into being in 1969 to articulate a response to the pressing exigencies of the nation. During the time of severe drought, the leaders sought to reduce the dependency of agriculture on monsoons by energizing agricultural pump-sets for optimized irrigation. Thereafter, we have ventured into newer paths and expanded our horizons to emerge today, as a leader in providing financial assistance to the power sector in all segments, be it Generation, Transmission or Distribution.
We are a Navratna company under the Ministry of Power. We fund our business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings, on our own. Domestically, we hold the highest credit ratings from CRISIL, ICRA, IRRPL and CARE and internationally we are rated at par with the sovereign ratings. Under the discerning leadership of highly qualified and experienced professionals, which has effectively harnessed the individual talents of all our employees, we have maintained consistent profit margins and paid dividends each year since fiscal 1998. We have thus propelled ourselves to a net worth of over ₹40,000 crore.