PFC shares gain over 4 pc on dividend offer

Shares of Power Finance Corporation rose by over 4 per cent today after the company announced an interim dividend of Rs 8.80 per share for 2015-16.
The stock gained 4.35 per cent to settle at Rs 215.75 on BSE. Intra-day, it climbed 4.95 per cent to Rs 217.
On NSE, it rose by 4.3 per cent to end at Rs 215.70.
Power Finance Corp, in a filing to BSE, yesterday said that its board at its meeting held on December 16, 2015, "declared and approved the payment of interim dividend @ Rs 8.80 per equity share on the face value of the paid-up equity shares of Rs 10 each for 2015-16."

The government, which holds a 67.8 per cent stake, or 89,49,24,366 shares, in the PSU, will fetch Rs 787.53 crore as the dividend payout.
The company said the interim dividend on equity shares will be paid on or after January 4, 2016.
Infrastructure finance company PFC is engaged in providing financial assistance to state power utilities for meeting financing and development requirements of the power sector.