PFC Sets Record Date for Dividend 2024, Reports Strong Q3 Results

What is PFC?

News: Power Finance Corporation (PFC) is a famous government-backed company in India that helps fund power projects across the country.

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The Exciting News: Dividend Time

Great news for investors and PFC shareholders! The company’s board has decided to give out a 35% dividend for the financial year 2023-24. But what does this mean? Let’s make it simple:

1. Record Date: On February 20, 2024, PFC shares will be traded ex-dividend. If you own PFC shares on or before this date, you’ll get the dividend.
2. Payment Date: The dividend will be paid on or before March 9, 2024. So, mark your calendars!

Crunching the Numbers

• Dividend Amount: Every equity share gets Rs 3.50 (after tax deduction).
• Dividend Yield: PFC’s dividend yield is over 2%, making it a good deal for investors.

PFC’s Dividend History

Quick look at PFC’s recent dividend history:

1. November 2023: PFC gave an interim dividend of Rs 4.5 per share.

   • Ex-date: November 24, 2023
   • Record date: November 27, 2023

2. September 2023: Bonus issue of 1:4 for shareholders.

   • Ex-date and record date: September 21, 2023

3. June 2023: Final dividend of Rs 4.5 per share.

   • Ex-date and record date: June 16, 2023

PFC’s Stock Performance

• Current Share Price: As of February 8, 2024, PFC’s stock closed at Rs 469.
• 52-Week High: Recently, it touched Rs 477.80 per share.
• Impressive Returns: Over the last year, PFC’s stock has given a whopping 307.92% return, with a rise of Rs 353.61 per share.
• Long-Term Gains: Looking back five years, the return stands at 479.48%, with Rs 387.61 per share.

Q3FY24 Results

In the October-December quarter, PFC reported a nearly 23% rise in consolidated net profit, reaching Rs 4,727.4 crore. The company’s revenue also increased by 20% year-on-year, totaling Rs 23,571.8 crore.

FAQs

1. What is the dividend amount announced by PFC?

The dividend amount announced by PFC is ₹3.50 per equity share.

2. When is the dividend payout scheduled?

The dividend payout is scheduled for March 9, 2024.

3. Is PFC a financially strong company?

Yes, PFC is a financially strong company with a significant increase in consolidated net profit and revenue in the third quarter of fiscal year 2023-24.