Power Finance Corporation declared its third interim dividend

by Psu Connect
Date: 13-03-24

Power Finance Corporation has declared its third interim dividend of Rs 3 per equity share which is subject to TDS deduction.

Power Finance Corporation declared its third interim dividend

New Delhi: As per the exchange filing of the company, the board of directors of Power Finance Corporation has declared the third interim dividend of Rs 3 per equity share on the face value of the paid-up equity shares of Rs 10 for each as of FY 2023-24.

It is also informed that 22nd March 2024 shall be reckoned as the Record Date to ascertain the eligibility of shareholders for the payment of the third interim dividend for FY 2023-24. The date of payment or dispatch of the aforesaid third interim dividend shall be on or before 10 th April 2024.

Further as per the provisions of the Income-tax Act, 1961, dividend income is taxable in the hands of shareholders, and the company is required to deduct tax at source (TDS) at the time of making payment of dividend, at the rates prescribed in the Income Tax Act, 1961. However, in case a shareholder wants that his or her tax should be deducted at lower rates or no tax should be deducted under the Income tax Act, 1961, then he or she should submit a scanned copy of PAN and other requisite documents for the financial year 2023-24.