One REC dividend (28 June 2024) missed?

Stocks
1

There were 2 dividends announced this FY:
Record date 28 June Dividend: 5 per share
Record date 09 August Dividend: 3.50 per share

Today I just got the 2nd one (3.50 per share) but did not get the 1st one (5 per share).

Holding this stock since last year. Also I have very few scrips, so checking bank statement is easy. It’s not there.

Can any REC holder confirm if they got the 28 June dividend?

2

This could possibly be the reason.

In case of interim dividend, the payout to the shareholders has to happen within 30 days from the date of the announcement of the dividend. However, in case of final dividend, the actual payment of dividend only has to be made within 30 days of the Annual General Meeting (AGM

₹3.5 being an interim dividend is paid earlier than the Final dividend of ₹5 , as the final dividend will be paid within 30 days from the AGM.

Not sure if the 30 days refer to 30 working days.

3

30 days from 28 June? Long ago?

And already received the next dividend today which had record date 9th August.

4

I think you didn’t get the point, the final dividend will be paid within 30 days from the date of AGM, not the record date.

(ie., within 30 days from AUG 20th)

The 55th Annual General Meeting of REC Limited (“REC”) was held on Tuesday, August 20, 2024 at 11:00 AM

PS: 28th June is just the record date, not the date of AGM, the final dividend needs to be approved/ voted on at the AGM

1 Like
5

Final dividend are declared early (generally with Q4 results) but are paid out only after it is approved in AGM.
So there is always delay in paying out of final dividend for all companies.

Generally do not expect final dividend until after couple of weeks of AGM.

Last month multiple people were complaining about not receiving HDFC final dividend, and there is good amount of discussion done on this topic in this forum. Please Look it up.

6

Okay, thanks to both SG and Akash