News: The Power Grid Corporation, a key entity in energy transmission, has shared details about the dividend schedule for 2024. Although awaiting official confirmation, sources indicate a tentative record date for the Power Grid Dividend in 2024 set for Thursday, February 15. Investors are encouraged to await official updates from the company regarding the confirmed record date. Moreover, the dividend payment date has been solidified for March 5, 2024, ensuring timely distribution of dividends to eligible shareholders.
Power Grid Dividend Record Date for 2024
The Power Grid Corporation has tentatively proposed Thursday, February 15, 2024, as the record date for the Power Grid Dividend in 2024. However, it’s essential to highlight that this date is not officially confirmed yet. The record date holds significance in identifying eligible shareholders entitled to any declared interim dividend, pending confirmation by the Board of Directors. Investors are recommended to monitor official announcements and updates from the company regarding the finalization of the record date for the Power Grid Dividend in 2024.
Power Grid Dividend Payment Date for 2024
The Power Grid Corporation has disclosed that the second interim dividend for the year 2024 will be distributed to eligible shareholders on March 5, 2024. As per the details shared with the stock exchanges, the dividend will be directly deposited into the accounts of qualified members on the specified date. Shareholders can anticipate timely and seamless dividend payments in accordance with the company’s communicated schedule.
Financial Performance and Dividend Declaration
In the third quarter of the financial year 2023-24, Power Grid Corporation has reported a significant 10% growth in its consolidated net profit, reaching Rs 4,028 crore compared to Rs 3,645 crore in the corresponding period the previous year. Additionally, there was a marginal increase of 2.5% year-on-year in revenue from operations, totaling Rs 11,550 crore. The company’s Board has approved a second interim dividend of Rs 4.50 per equity share for the current fiscal year, scheduled for eligible shareholders on March 5, 2024. Furthermore, the EBITDA for the quarter increased by 3% year-on-year to Rs 10,213 crore, reflecting improved margins at 88.4%. These positive financial indicators are anticipated to contribute to enhancing shareholder value, alongside the dividend declaration.
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The Power Grid Corporation has issued vital updates concerning the dividend record date and payment schedule for 2024. While the official confirmation for the record date is pending, Thursday, February 15, 2024, is provisionally suggested as the record date. Investors are advised to remain vigilant for official announcements from the company regarding the finalized record date. The dividend payment date has been confirmed as March 5, 2024, ensuring prompt distribution of dividends to eligible shareholders. The company’s robust financial performance, including a notable 10% growth in net profit and improved margins, is anticipated to have a positive impact on shareholder value. Investors can trust the Power Grid Corporation’s commitment to delivering timely dividends and fostering growth in the energy transmission sector.
FAQs
1. What is the tentative record date for the Power Grid Dividend in 2024?
The tentative record date for the Power Grid Dividend in 2024 is Thursday, February 15.
2. When will the Power Grid Dividend for 2024 be paid?
The Power Grid Dividend for 2024 will be paid on March 5, 2024.
3. What is the financial performance of Power Grid Corporation for the third quarter of the financial year 2023-24?
Power Grid Corporation reported a 10% growth in its consolidated net profit for the third quarter of the financial year 2023-24, reaching Rs 4,028 crore.
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