Power Grid board approves interim dividend of Rs 7 per share

Power Grid Corporation of India Ltd's (PGCIL) board on Wednesday approved an interim dividend of Rs 7 per Rs 10 share for FY22.

''The board of directors in its meeting held today i.e. on December 15, 2021, has approved the payment of an interim dividend of Rs 7 per equity share of Rs 10 each (including a special dividend of Rs 3 per equity share) i.e. at the rate of 70 per cent of the paid-up equity share capital for the financial year 2021-22,'' according to a regulatory filing.

According to the filing, the interim dividend shall be paid to the members on January 11, 2022.

Power Grid Corporation of India's consolidated net profit rose 9.12 per cent to Rs 3376.38 crore in the September quarter.

PGCIL, a "Maharatna" Central Public Sector Enterprise, is India's largest electric power transmission utility. The Government of India held 51.34% stake in the company.

On Wednesday, shares of PGCIL ended 1.08 per cent lower at Rs 210 apiece on BSE.