NBFC stock's YTD dividend yield beats bank FD, PPF interest rates. Do you own?
1 min read . Updated: 29 Oct 2022, 01:00 PM IST
Premium- NBFC PSU has given ₹15.80 dividend to its shareholders in 2022
Dividend paying stock REC Ltd has announced strong ₹5 per share interim dividend payable in financial year 2022-23. However, if we look at the REC dividend history, the stock has been giving dividend to its shareholders on a regular basis and its current dividend yield of 15.80 per cent in year-to-date (YTD) time is higher than bank fixed deposit (FD) rates, which would comes around 4-5 per cent in such time horizon (depending upon the bank chosen by the depositor). In fact, it has managed to yield higher than Public Provident Fund (PPF) interest rate of 7.1 per cent per annum.
REC dividend history
As per the REC dividend 2022 details available on the BSE website, REC Ltd has declared ₹15.80 per share dividend to its shareholders this year. It gave ₹6 per equity share interim dividend in February 2022 payable in the financial year 2021-22. Likewise, it gave ₹4.80 per equity share final dividend in July 2022, which was also payable in FY22. Now, recently, REC has announced ₹5 interim dividend for each share held by its shareholders. So, the NBFC PSU has announced ₹15.80 dividend this year to its shareholders.
REC Dividend yield in 2022
REC share price ended around ₹100 levels in Friday deals on NSE whereas its dividend yield in 2022 is ₹15.80. Hence, its current dividend yield in YTD time stands around 15.80 per cent, which is almost double of PPF interest rate currently being given to the PPF account holders whereas bank FD rates being given to depositors in such small time is in the range of 4-5 per cent, depending upon the bank chosen by the depositor.
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Recently REC Ltd informed Indian stock market exchanges about dividend record date citing,, "The Board of Directors of REC Limited in its meeting held on October 27, 2022 approved payment of interim dividend @ ₹5/- per equity share for FY 2022-23. Further, the record date for the said interim dividend is Wednesday, November 9, 2022 and the said interim dividend shall be paid/dispatched on Thursday, November 24, 2022."
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