Torrent Power Dividend 2024 Record Date, Share Price, History

News: In this article, we’ll delve into the details of Torrent Power’s dividend for the year 2024. We’ll cover the record date, share price, and the company’s dividend history. Let’s get started!

What is a Dividend?

Before we dive into the specifics, let’s understand what a dividend is. A dividend is a portion of a company’s profits that it distributes to its shareholders. It’s like a little bonus for being a part-owner of the company. Companies usually pay dividends periodically, and it’s a way to reward investors.

Torrent Power: An Overview

• Torrent Power Ltd. is a significant player in the power generation and distribution sector.
• It’s listed on both the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange).
• The company has consistently declared dividends over the last 5 years.

Dividend Details for 2024

• Record Date: The record date for Torrent Power’s dividend in 2024 is February 16, 2024.
• Interim Dividend: On February 1, 2024, the company declared an interim dividend of Rs 0.00 per share. (Yes, you read that right—zero!)
• Final Dividend (2023): In May 2023, Torrent Power paid a final dividend of Rs 4.00 per share.
• Dividend Yield: The current share price of Torrent Power is Rs 1150.30. With the recent dividend, the dividend yield stands at 2.26%.

Why Does It Matter?

• Dividends matter to investors because they provide an additional income stream.
• They also reflect the financial health and stability of a company.
• A consistent dividend track record can attract more investors.

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About Torrent Power Industry :

Torrent Power is an Indian energy and power company with a diverse portfolio. Let’s explore its key aspects:

Overview

• Torrent Power Ltd. is a significant player in the energy sector.
• It engages in power generation, transmission, distribution, and manufacturing and supply of power cables.
• The company operates in Gujarat, Maharashtra, and Uttar Pradesh.

History and Acquisitions

Torrent Power has an interesting history:

• It successfully turned around an ailing power cable company called Mahendra Electricals, renaming it as Torrent Cables Ltd. (now merged with Torrent Power).
• The company acquired two of India’s oldest utilities:
  • The Surat Electricity Company Ltd.
  • The Ahmedabad Electricity Company Ltd.
• These acquisitions formed Torrent Power AEC Limited and Torrent Power SEC Limited.
• In 2005, Torrent Group established Torrent Power Generation to expand further into the power business.
• Later, the three power-related companies—Torrent Power AEC Ltd., Torrent Power SEC Ltd., and Torrent Power Generation Ltd.—merged to form Torrent Power.

Operations and Generation

• Aggregate Generating Capacity: Torrent Power boasts an aggregate generating capacity of over 4 GW.
• Power Plants Mix:
  • Coal-based
  • Gas-based
  • Renewable power plants

Distribution Areas

Torrent Power distributes electricity to over 38.5 lakh customers annually in various regions:

• Gujarat: Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera Special Investment Region.
• Dadra and Nagar Haveli and Daman and Diu UT
• Maharashtra: Bhiwandi, Shil, Mumbra, and Kalwa areas of Mumbai Metropolitan Region.
• Uttar Pradesh: Agra.

Torrent Power’s dividend history and the recent announcement for 2024 give us insights into the company’s financial performance. Whether you’re an existing shareholder or considering investing, keeping an eye on dividends is essential. Remember, while dividends are exciting, they’re just one piece of the investment puzzle.

FAQs

Q: When will Torrent Power’s Interim Dividend be recorded?

A: The Record Date for Torrent Power’s Interim Dividend is on February 16, 2024.

Q: When will the Interim Dividend be paid?

A: The Payment Date for the Interim Dividend is set for March 7, 2024.

Q: Where does Torrent Power have a big presence?

A: Torrent Power has a strong presence in important areas like Ahmedabad, Gandhinagar, Surat in Gujarat, Dadra and Nagar Haveli, Daman and Diu UT, and the Mumbai Metropolitan Region in Maharashtra.