REC announces 30% interim dividend for 2009-10
State-run Rural Electrification Corporation (REC) today announced 30 per cent interim dividend for the year 2009-10.
The company has fixed January 5 as the record date for interim dividend of Rs 3 per equity share of face value of Rs 10, an REC statement said here.
REC had announced an interim dividend of Rs 2 per share in 2008-09. It had paid total dividend of 45 and 30 per cent in 2008-09 and 2007-08, respectively.
REC is gearing up to raise Rs 3,300 crore through its follow-on public offer (FPO) in February. The offer would comprise 5 per cent stake dilution by the government and issuance of 15 per cent fresh equity by the company.
Post-FPO, the government's share in REC would come down to nearly 66 per cent from the present 81.82 per cent.