Find out all the information about the Dividend Adjustment of PFC for Dec 2023, including the ex-dividend date, record date, cash and F&O adjustments, and more. Discover how Power Finance Corporation Limited will adjust its dividends according to SEBI regulations.
PFC Limited announced the Third Interim Dividend of ₹ 3.5 per share on February 13, 2023. This translates to a yield of 2.4% based on the closing price of ₹ 145.8 on February 10, 2023. The ex-dividend date is set for February 24, 2023, with the record date for dividend payment scheduled for February 24, 2023.
SEBI’s Guidelines for Dividend Adjustment in F&O
As per SEBI regulations, companies declaring dividends higher than 2% of the preceding day’s closing price must adjust the dividends in futures and options markets. In compliance with these rules, PFC will adjust its dividends in both the futures/options markets and the cash market.
Dividend Adjustment of PFC for Dec 2023 in the Cash
Investors who buy PFC shares on or prior to February 23, 2023, will receive the cash dividends directly to their bank accounts, as this is the last cum-dividend date for the stock in the cash market.
Dividend Adjustment of PFC for Dec 2023 the Futures
In the futures market, PFC’s futures contracts will be adjusted by subtracting the dividend amount from the February 23, 2023 closing price. For instance, if PFC closes at ₹ 148.5 on February 23, 2023, one futures contract would be worth ₹ 148.5 x 6200 = ₹ 9,20,700. The next day, February 24, 2023, the value of the same contract would be adjusted to ₹ 145 x 6200 = ₹ 8,99,000. The difference between these two values will be transferred from the futures seller’s account to the futures buyer’s account.
Dividend Adjustment of PFC for Dec 2023 in the Options
In the options market, the dividends will be subtracted from the call and put option strike prices for ongoing monthly contracts i.e. February 23, 2023, and those expiring on, March 29, 2023, and April 27, 2023. This can be understood through the table given below:
Dividend Adjustment Of PFC
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