PFC slips ex-dividend

Power Finance Corporation fell 1.26% to Rs 302 at 10:22 IST on BSE on turning ex-dividend for an interim dividend of Rs 8.50 per share for the year ending 31 March 2015.

Meanwhile, the BSE Sensex was up 292.83 points, or 0.99%, to 29,886.56.

On BSE, so far 88,000 shares were traded in the counter, compared with an average volume of 2.76 lakh shares in the past one quarter.

The stock hit a high of Rs 306.20 and a low of Rs 300.55 so far during the day. The stock hit a 52-week high of Rs 344.20 on 10 June 2014. The stock hit a 52-week low of Rs 158.50 on 4 March 2014.

The stock had outperformed the market over the past one month till 3 March 2015, rising 6.23% compared with 2.05% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.23% as against Sensex's 4.05% rise.

The large-cap company has an equity capital of Rs 1320.04 crore. Face value per share is Rs 10.

Before turning ex-dividend, shares of Power Finance Corporation (PFC) offered a dividend yield of 2.78% based on the closing price of Rs 305.85 on Tuesday, 3 March 2015.

PFC's net profit rose 0.48% to Rs 1541.73 crore on 16.06% increase in total income to Rs 6438.35 crore in Q3 December 2014 over Q3 December 2013.

PFC's main business is to provide finance to power sector.

Government of India (GoI) held 72.8% stake in Power Finance Corporation (as per the shareholding pattern as on 31 December 2014).

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