REC’s dividend decision will be taken in next week’s board meeting

“It is informed that a meeting of the Board of Directors of REC Limited will be held on Monday, the 30th January, 2023 to, inter alia, consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company. 31 December, 2022 and to consider the proposal for the second interim announcement Dividend for the financial year 2022-23, if any,” the company informed in an exchange filing last week.

It further stated that the trading window shall remain closed from January 1, 2023 to February 1, 2023 and during the said period, all the designated persons and their immediate relatives are advised not to deal in the equity shares/securities of REC. Further, the trading window will open from February 2, 2023.

REC Limited is a Navratna Company under the administrative control of Ministry of Power. REC (earlier known as Rural Electrification Corporation Limited), under the Ministry of Power, provides financial assistance to power sector projects in development, generation, transmission or distribution segments. It finances its business with market borrowings of various maturities, which include bonds and term loans, apart from overseas borrowings. REC shares have gained over 28% in a span of one year.

In the last 12 months, REC Limited has declared Equity Dividend 15.80 per share which results in a dividend yield of 12.73% at the current share price when adjusting for bonuses/splits the dividend yield as per Trendline data is 10.56%.