Power Grid Corporation of India Ltd. (POWERGRID) announced a significant milestone in its expansion efforts, as its wholly owned subsidiary, POWERGRID KPS3 Transmission Limited, successfully commissioned the Khavda Pooling Station-3 (KPS3) project in the Khavda Renewable Energy (RE) park.

Project Details

The KPS3 project, secured through a Tariff Based Competitive Bidding process, achieved commercial operation on August 4. The company received the official Notification for Commercial Operation (DOCO) via email on August 18, marking the formal commencement of its operations.

Strategic Importance

The Khavda Pooling Station-3 is part of the larger Inter-State Transmission System initiative, specifically aimed at establishing crucial infrastructure within the Khavda RE park. This project underscores POWERGRID's commitment to enhancing India's power transmission capabilities and supporting the growth of renewable energy infrastructure.

Corporate Disclosure

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, POWERGRID promptly informed the National Stock Exchange of India Limited and BSE Limited about this development. The disclosure, signed by Company Secretary & Compliance Officer Satyaprakash Dash, highlights the company's adherence to regulatory transparency.

Implications for POWERGRID

The successful commissioning of the KPS3 project by its subsidiary reinforces POWERGRID's position as a key player in India's power transmission sector. It demonstrates the company's ability to execute complex projects efficiently, potentially strengthening its competitive edge in future bids for similar infrastructure developments.

This achievement aligns with India's broader goals of expanding its renewable energy capacity and improving power distribution across the country. As the demand for robust transmission infrastructure grows alongside the renewable energy sector, POWERGRID's strategic investments in such projects are likely to contribute positively to its long-term growth prospects.

Power Grid Corporation of India (ISIN: INE752E01010) has declared a final dividend of 12.5%, amounting to Rs 1.25 per share, with the record date set for August 19. This announcement comes as part of a broader trend, with several other listed companies also declaring dividends with the same record date.

Dividend Details

Power Grid Corporation's dividend declaration underscores its commitment to providing returns to shareholders. Investors looking to qualify for this dividend payout must purchase shares by the last trading day before the record date. The company's consistent track record of dividend payments continues to make it an attractive option for income-focused investors.

Other Companies Announcing Dividends

Power Grid Corporation is not alone in its dividend declaration. Eleven other listed companies have also announced dividends with the August 19 record date:

Notable Dividend Declarations

Among the companies announcing dividends, some stand out for their significant payouts:

1. Apollo Hospitals Enterprise: A final dividend of 200% at Rs 10.00 per share.
2. Industrial & Prudential Investment Company: An impressive 1100% dividend at Rs 110.00 per share.
3. The Jammu & Kashmir Bank: A 215% dividend at Rs 2.15 per share.

The varying dividend percentages and amounts reflect the diverse financial strategies and performances of these companies across different sectors.

Investor Considerations

For investors interested in these dividend-paying stocks, it's crucial to note that shares must be purchased by the last trading day before the record date to qualify for the dividend payout. This applies not only to Power Grid Corporation but also to the other companies mentioned.

The cluster of companies announcing dividends with the same record date provides investors with multiple options to consider for potential income generation. However, as always, investors are advised to conduct thorough research and consider their overall investment strategy before making decisions based solely on dividend announcements.