REC is Navratna public sector under Ministry of Power. It is built on July25, 1969 under companies’ act 1956. Therefore REC is Non-Banking Financial Company with Infrastructure Finance Company status. See rural electrification corporation news. For more details see REC share price and chat. Hence, check latest financial fact sheet of REC.
Company History of REC
REC also plays an important role in several Government schemes of India. Moreover, Rec provides loan assistance to various State Power Utilities. In addition, like Private Sector Projects Developers and State Government for investment. Therefore REC is involved in implement of Ujjwal Discom Assurance Yojana (UDAY).
However, it also provides funds for Integrated Power Development Scheme (IPDS). Because, for improve government scheme of urban power infrastructure in country. And it has set up dedicated training Central Institute for Rural Electrification at Hyderabad. But in year 1992 company is declare public financial institution.
Company is engaged in finance. And it promotes transmission, distribution and generation projects. Its main objective is to finance and promote projects in Power sector across India. But they provide financial assistance to state electricity boards. To better understand check out Top 10 best stocks to buy long term in India.
Dividend History of REC
Moreover, REC aims to appoint bank for payment of Interim Dividend for FY 2016-17. Therefore dividend account is to be fund by 20th Feb 2017. And payout date shall be by 6th march 2017.Probably, an interim dividend of Rs 12.00 per paid by company for FY 2015-16. But in FY 16-17 REC has issued bonus shares in ratio of 1:1.
Rural Electrification Corporation (REC) dividend announce by directors. Therefore they recommend final dividend payment of RS 2.65 per share on face value of Rs.10 each for FY17. In addition to interim dividend of Rs 7 per equity share declared in month of Feb 2017. And total dividend for FY17 is Rs.9.65 per share on face value of Rs.10 each.
However, final dividend of Rs.2.65 per share is declared will be paid to shareholders within 30 days. REC has fallen to its 52 week low at Rs 155 down by Rs 14 or 8% on BSE. But after stock quote ex dividend for Rs. 12 per share. Hence, check REC share price history. And for more details REC ltd share price target and company profile.
On Feb10, 2016 company directors declared Interim dividend payment at rate of Rs 12 per share on face value of Rs 10 each for FY 2015-16. Find below dividend history of REC since 2008-17. For better understand read REC announcement.
|Announcement Date||Ex Dividend Date||Dividend (%)||Dividend Type|
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