PFC Declares Second Interim Dividend of ₹3.65 per Share
Power Finance Corporation (PFC), a leading NBFC under India’s Ministry of Power, has approved its second interim dividend for FY24 at ₹3.65 per equity share. The record date for eligibility has been fixed as November 26, 2023, with the payment date to be announced soon.
Key Details of PFC’s Dividend Announcement
- Dividend Amount: ₹3.65 per share
- Record Date: November 26, 2023
- Payment Date: To be disclosed
This follows PFC’s first interim dividend of ₹4.50 per share paid earlier in FY24, reinforcing its commitment to shareholder returns.
PFC’s Financial Strength & Market Response
PFC reported strong Q2 FY24 results:
– Net Profit: ₹4,676 crore (+26% YoY)
– Net Interest Income (NII): Up 20% YoY
The company’s loan book has expanded, driven by funding for renewable energy and infrastructure projects. Analysts remain bullish, citing PFC’s stable cash flows and government backing.
Why This Dividend Matters
- Consistent Payouts: PFC has a reliable dividend track record.
- Sector Growth: Rising demand in power & renewables boosts PFC’s prospects.
- Low Risk: Government ownership adds stability.
Next Steps for Shareholders
- Verify Eligibility: Ensure shareholding is updated by November 26.
- Await Payment Date: PFC will announce disbursement details soon.
- Monitor Updates: Watch for further financial results and dividend news.
Analyst Outlook
Experts highlight PFC’s role in India’s energy transition:
“PFC’s interim dividend reflects its financial health. Its focus on green energy financing positions it for long-term growth.” – Senior Brokerage Analyst
Final Thoughts
PFC’s latest dividend reinforces its shareholder-friendly approach amid strong sectoral performance. Eligible investors should confirm holdings by the record date for payout access.
