Reliance Power shares soar four per cent as board to consider maiden dividend November 9

MUMBAI: Reliance Power’s board of directors will meet on November 9 to consider maiden interim dividend, the company informed the bourses.

Shares of the company rose 4% to Rs 41.40 on the Bombay Stock Exchange, reacting to the news. This will be the first dividend for the Anil Ambani-led company since its listing in 2007-08.

On Tuesday, Reliance Power reported a net profit of Rs 346 crore for the second quarter of 2015-16, up 37% year-on-year, driven by higher generation. The company total income increased to Rs 2,856 crore in the September quarter from Rs 1,885 crore a year ago.