Power Grid Corporation of India gained 1.22% to Rs 195.65 after the company said its board approved the payment of interim dividend of Rs 5 per equity share for the financial year 2020-21.
Based on the ruling market price, the dividend yield works out to 2.55%.The company has fixed 19 December 2020 as the record date for determining the entitlement of the shareholder for the interim dividend.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India.
The company reported 20.34% rise in consolidated net profit to Rs 3,094.10 crore on a 2.36% increase in total income to Rs 9,887.48 crore in Q2 September 2020 over Q2 September 2019.
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