REC Limited declares 3rd interim dividend for FY24

REC Limited declares 3rd interim dividend for FY24

New Delhi- REC Dividend 2024: The Maharatna Public Sector Undertaking under the administrative control of the Ministry of Power, Government of India REC Limited today on March 19 in its Board of Directors meeting declared the 3rd interim dividend at Rs 4.50 (Rupees Four and Paise Fifty only) per equity share of Rs 10/ - each for the financial year 2023-24.

Further, as earlier informed, the record date for the said interim dividend is Thursday, March 28, 2024, and the said interim dividend shall be paid on or before April 17, 2024, to those shareholders, whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as on the close of business hours on March 28, 2024 in respect of shares held in electronic form; and (b) as members in the register of members on March 28, 2024 in respect of physical shares.

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The company in its BSE filing also mentioned that as per the provisions of 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 under the Income Tax Act, 1961. 

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In view of the same, and in continuation of our letters dated July 7, 2023, August 3, 2023 and November 2, 2023 on above subject, it is once again reiterated that in case a shareholder desires that his/ her tax should be deducted at lower rates or no tax should be deducted, then he/she is required to submit scanned copy of P AN, fo rm l5G/ 15H & other requisite documents for the financial year 2023-24, on or before March 28, 2024, unless already submitted, through e-mail at '[email protected]' with a copy marked to '[email protected]'. 

It is also states that "No communication on the tax determination/ deduction of tax at lower rates shall be entertained after March 28, 2024 or if sent on any other email ID, other than mentioned above."

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