Dividend Paying Stock REC Limited is going to consider issue of Bonus Shares on 30th June 2022. In its meeting on 30th June 2022, the Board of Directors of REC Limited will consider the proposal for issue of Bonus Shares to the Equity Shareholders of the Company. It is expected that the board will also decide the ratio of bonus shares in this meeting. The bonus shares, if approved, will be another good news for the shareholders as the company has already paid the interim dividend of 6 per equity share for the financial year 2022.
REC Limited Describing Bonus Shares to Indian Exchanges, it said, “With reference to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that the meeting of the Board of Directors of REC Limited was held on Thursday, June 30, 2022 to consider, inter alia, a proposal to issue bonus shares to the equity shareholders of the company, as it may deem fit, through capitalization of reserves, subject to the approval of the shareholders.”
In view of the above, the trading window of REC Limited shall remain closed for trading within 48 hours from 20th June, 2022 to all the nominees and their immediate relatives till after the declaration of financial results for the quarter ended 30th June, 2022 . Equity shares and listed securities (tax free bonds etc.). The trading window will open 48 hours after the declaration of financial results for the quarter ended June 30, 2022.
In the financial year 2021-22, REC Limited has announced interim dividend twice. It became an ex-dividend stock on 11 November 2021 and 15 February 2022. In November 2021, the company had declared an interim dividend 2050 per equity share while the interim dividend paid in February 2022 was 6 per equity share. Hence, the net interim dividend paid in FY22 is 8.50 ( 2.50 + 6.00).
REC share price today on BSE is 118.70 each, and interim dividend paid in FY22 is 8.50 per equity share, net annual dividend yield of the dividend paying stock is around 7.15 per cent.