CG Power Share Price in Focus As Its Board to Decide on Interim Dividend Today

CG Power share price opened higher on Tuesday as investors awaited the company’s decision on an interim dividend. The stock rose by 1.33% to ₹619.00 on the BSE. The board of directors is scheduled to meet today, March 18, 2024, to discuss and approve the interim dividend for the FY 2024-25.

Official Announcement on Dividend

In a regulatory filing on March 11, CG Power confirmed that its board would consider an interim dividend in today’s meeting. However, details regarding the record date and payment date are yet to be disclosed.

CG Power’s Dividend History

The company previously declared an interim dividend of ₹1.30 per share on February 5, 2024. In March 2023, shareholders received ₹1.50 per share. CG Power also issued interim dividends of ₹0.40 per share in February 2015 and October 2014.

CG Power and Industrial Solutions Limited

CG Power and Industrial Solutions Limited, formerly known as Crompton Greaves Limited, is an Indian MNC specialising in the design, manufacturing, and sale of products for power generation, transmission, distribution, and rail transportation.

Stock Performance and Market Position

CG Power’s stock has gained over 6% in the last month but has dropped 15% in the past 6 months. Despite this, the stock has delivered impressive returns of 114% in 2 years and a massive 10,778% gain over the last 5 years, making it a multibagger.

At 9:20 AM, CG Power share price were trading 0.64% higher at ₹614.75 on the BSE, with a market capitalisation of over ₹94,078 crore.

Conclusion

Investors are keenly watching CG Power’s dividend decision, which could boost investor sentiment. Despite recent declines, the stock remains a strong multibagger.

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