This mid cap stock declares dividend, scrip trading at dividend yield of 2.32%

The company today said in a stock exchange filing that its board of directors has “considered and approved the declaration of distribution of Rs. 3:00 per unit for the quarter ended December 31, 2022, consisting of interest of Rs. 2.01 per unit as Rs.0.43 per unit as taxable dividend, Rs.0.25 per unit as exempt dividend, Rs.0.30 per unit as repayment of SPV loan and Rs.100 per unit as treasury income 0.01 per Unit. The record date of distribution to Unitholders will be Monday, January 30, 2023 and the payment of distribution will be made on or before Wednesday, February 08, 2023.”

On a consolidated basis, the company reported net sales of 324.32 Cr in Q3FY23 as against 334.77 Cr was recorded in Q3FY22, representing a decline of 3.13% YoY. The company recorded a net profit of 216.82 crore in the quarter ending December 2022 232.63 crore was recorded in the quarter ending December 2021, representing a decline of 6.79%. The company’s EPS was 2.30 per share in Q3FY23 as against 2.41 per share in the year-ago quarter.

On a standalone basis, POWERGRID Infrastructure Investment Trust (PGInvIT) recorded revenue from operations of As against 256.92 in Q3FY23 274.26 Cr was recorded in the year-ago quarter, representing a decline of 6.32%. Net profit of the company reached 243.90 Cr in Q3FY23 as compared to Rs. 272.77 Cr representing a decline of 10.58% YoY over the year-ago quarter. PowerGrid Infrastructure Investment Trust (PGInvIT) reports EPS of 2.68 per share in Q3FY23 as against 3.00 per share recorded in the year-ago quarter.

On NSE, shares of PowerGrid Infrastructure Investment Trust (PGInvIT) closed today 128.99 each level, up 0.78% from the previous close 127.99. The stock recorded a total volume of 568,935.00 shares as compared to 20-day average volume of 454,096 shares. At the current market price, the stock is trading at a dividend yield of 2.32%. Data from Trendline shows that POWERGRID Infrastructure Investment Trust has declared an equity dividend value 12.00 per share during the last 12 months. at the current share price of 128.99, resulting in a dividend yield of 9.30%.