Power Finance Corp board to consider bonus proposal, dividend on August 11

9 Aug 2023 , 01:48 PM

On August 11, Power Finance Corporation’s board of directors will consider a proposal to issue bonus shares to its shareholders. On the same day, the corporation will also release its results.

‘The Power Finance Corporation’s board of directors will consider a proposal for bonus shares to be issued to the company’s equity shareholders in the ratio, as it may deem fit by way of capitalization of reserves, subject to approval of shareholders,’ the business stated in its filing with the bourses.

The company has not yet disclosed the record date, but will do so shortly. 

In addition, the Board will also consider a proposal relating to the announcement of an interim dividend, if any, for fiscal year 2023-24.

Power Finance Corporation invests in power projects in India. The company serves central power sector utilities, state power utilities, power departments, private power sector utilities, power equipment manufacturers, joint sector power utilities, and municipal power utilities.

At around 1.37 PM, Power Finance Corporation was trading 0.17% higher at Rs 269.45, against the previous close of Rs 269 on NSE. The counter touched an intraday high and low of Rs 270.70 and Rs 265.35, respectively.

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