Shares of Power Finance Corporation (PFC) fell more than one percent The stock started trading ex-dividend as 118.9 on the BSE in early deals on Thursday, ahead of the record date for its interim dividend for FY 2022-23.
Last month, the company informed that “the Board in its meeting held on August 12, 2022 approved the interim dividend”. 2.25 per equity share of face value 10 each for 2022-23.” Further, the company said that September 3, 2022 would be the ‘record date’ for the purpose of ascertaining the eligibility of shareholders for the payment. interim dividend and the date of payment/remittance of interim dividend shall be on or before September 11, 2022.
State-owned Power Finance Corporation (PFC) reports marginal increase in consolidated net profit 4,579.5 crore for the first quarter ended June 2022-23. the net profit of the company was 4,555 crore in the year-ago period. its total income was 18,544 crore as against 18,970 crore in the same period a year ago.
The board also approved membership of 50 per cent equity shareholding not exceeding 50 crores for taking up stressed/NPA (Bad Loan) assets in Power Sector in PFC Projects Limited (PPL), subject to requisite approvals. PPL is a Power Asset Management Company. The PFC Board on August 12, 2022 approved the creation of Power Asset Management Company (PAMC) to take over stressed/NPA power assets.
In the last 12 months, Power Finance Corporation Limited has declared Equity Dividend amounting to 12 per share. at the current share price of According to Trendline’s data, 118.90, this results in a dividend yield of 10.09%.
Incorporated on July 16, 1986, PFC is under the administrative control of the Ministry of Power, a premier non-banking financial corporation in India, and was awarded the title of ‘Maharatna CPSE’ in October, 2021. PSU Stock Down about 4% so far in 2022 (YTD).
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