Dividend, Buyback & Bonus Shares in Focus!
The date of February, 28 is important for the shareholders of these three companies because one company has fixed the ex-date for dividend payment on this day, another has fixed the record date for buyback while the third company has declared the record date for issuing bonus shares on that day.
1. PFC
PFC is a Large Cap non banking financial corporation providing financial assistance to power utilities in India. On Tuesday, 25 February Share of Power Finance Corporation (PFC) closed in red sign on NSE. Current share price of PFC is ₹382 and market of the company is around ₹1.25 lakh crore. PFC has declared a third interim dividend of ₹3.50 per equity share for the fiscal year 2024-25. The record date to determine shareholders’ eligibility is February 28, 2025, with the dividend payable by March 11, 2025.
In the third quarter ending December 31, 2024, PFC reported a consolidated net profit of ₹7,759.56 crore, a 23% increase from ₹6,294.44 crore in the same period the previous year. Total income rose to ₹26,821.84 crore from ₹23,593.40 crore year-on-year.
PFC’s asset quality improved, with gross non-performing assets (GNPA) at 2.68%, down from 2.71% in the previous quarter, and net NPA at 0.71%, compared to 0.72% in Q2FY25.
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2. NAVA
NAVA Bharat Ventures has grown into a multinational diversified group. Share price of Nava closed on 25 February on NSE at ₹414.25. Nava Ventures is a small cap company with a market cap of approximately ₹12000 crore.
On February 19, 2025, Nava Limited’s board approved a share buyback plan to repurchase up to 72 lakh fully paid-up equity shares at ₹500 per share, totaling ₹360 crore. This buyback represents 2.48% of the company’s outstanding shares and offers a 32.1% premium over the last closing price on the BSE.
The buyback will be conducted through the tender offer route, with a record date set for February 28, 2025, to determine eligible shareholders. Notably, the promoters and promoter group, holding a 48.89% stake as of February 14, 2025, have opted not to participate in this buyback.
Following the announcement, Nava’s shares surged over 13%, reaching an intraday high of ₹428.15 on the BSE. Despite a 23.73% year-on-year decline in net profit to ₹250.33 crore and a 9.4% decrease in revenue to ₹842.49 crore for Q3 FY25, the company’s stock has gained 64.22% over the past year.
Nava Limited operates across sectors such as metals, energy, mining, healthcare, and commercial agriculture, and is recognized as one of India’s leading ferroalloy producers.
3. Jindal Worldwide
Jindal Worldwide Ltd., a prominent textile manufacturer, has announced a 4:1 bonus share issue, granting shareholders four additional shares for each share held. This decision, approved on January 7, 2025, aims to reward investors and enhance market liquidity. The bonus shares will be issued by capitalizing the company’s free reserves and securities premium account as of March 31, 2024. The record date for determining eligible shareholders is set for February 28, 2025, with the distribution of bonus shares expected by March 6, 2025. Following the announcement, Stock of Jindal Worldwide reached a 52-week high of ₹470.95 after the announcement of bonus share but currently it is trading almost ₹100 below from 52 week high.
On 25 February, Share price of Jindal Worldwide closed near to ₹374. Market Cap of this stock is around ₹7500 Crore.