In an exchange filing released on Thursday, IREDA said that its board of directors during its meeting considered and declared the interim dividend of 6% (subject to deduction of TDS) on the face value of Rs 10 apiece for FY26.
Record date for IREDA’s dividend
The record date to determine the eligibility of the shareholders set to receive the payment has been set on April 2. This means that only those shareholders who own shares of the company in their demat accounts on the record date will be eligible for the dividend payment, which is scheduled to be paid within 30 days from the date of declaration.According to the provisions of the Income Tax Act of 1961, dividend income is taxable in the hands of the shareholders, and the company must deduct tax at source (TDS) while paying the dividend, IREDA highlighted. It said that April 2 is the last date for shareholders to announce if they want the tax to be deducted at lower rates, along with necessary documents.
IREDA also noted that it will pay the dividend only through the electronic mode, and the payment via cheques or warrants has been discontinued. “In view of the same, members are therefore requested to approach their respective Depository Participant (DP) to register or update their bank account details in their demat account, in accordance with the procedure prescribed by the DP, to facilitate smooth and timely credit of dividend,” it said.
IREDA raises borrowing plan for FY26
IREDA raised its borrowing plan for FY26 from Rs 30,800 crore to Rs 35,800 crore, in the previous week. The plan includes fundraising through taxable bonds, subordinated Tier II bonds, perpetual debt instruments, term loans from banks, lines of credit from international agencies, short term loans from banks or external commercial borrowings. It also raised its market borrowing programme to Rs 40,000 crore for the upcoming FY27.
The shares of the company declined nearly 3% to trade at Rs 115.72 apiece on Friday morning. The stock has gained more than 2% in the past five days, but fell over 5% in the past one month and 22% in the past six months.
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