REC Ltd announces record date for final dividend payout
The state-run power financier REC Ltd has announced the record date for its final dividend.
The State-owned had declared a final dividend of Rs 5 along with its March quarter results, which were declared on June 30. This is the highest dividend payout by the company since November 2022, when it announced a dividend of Rs 5 per share.
The company has set June 28 as the record date for the announced final dividend. Shareholders must buy REC shares by June 28 to receive the final dividend.
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The dividend income is taxable in the hands of shareholders and REC is required to deduct tax at source at the time of paying the dividend as per the rates prescribed in the Income Tax Act, of 1961.
The REC shares concluded 0.9% lower at Rs 527.8 in the recent trading session. The stock had dropped 25% on June 4, the day of the Lok Sabha election results.
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