PFC Shares Rise 2% on Rs 4.10 Interim Dividend; PFC-REC Merger Scheme Cleared at 88:100 Swap

Power Finance Corporation shares rose about 2% after the board declared a second interim dividend of ₹4.10 per share for FY27, extending a run in which the pfc share price has nearly tripled investor wealth over the past year.

The dividend is not the only board-level action moving the stock. Over the same stretch, both PFC and REC boards approved a scheme of merger on June 28, 2026, at an 88:100 share swap ratio, and trading in both counters shifted sharply on the restructuring news.

Dividend up 200% in five years

The second interim dividend of ₹4.10 per share was approved along with the company’s earnings updates, and the stock’s response was a roughly 2% gain in the session. The payout fits a longer pattern: Live Mint reported that PFC’s dividend has risen about 200% over five years, while the share price itself rallied 5% in just three days around the announcement.

The times are tight for income-focused buyers. Shares of the PSU are set to trade ex-dividend this week, according to India TV, which noted that PFC has delivered a 200% return to shareholders over two years.

Q2 net profit dips marginally to ₹7,681 crore

PFC posted a marginal dip in consolidated net profit for the quarter ended September 30, 2026, with Rediff MoneyWiz putting second-quarter net profit at ₹7,681 crore. Full results for the quarter and the six months ended September 30 were published on Marketscreener.

Earlier quarters had run in the other direction. PFC reported an 11% rise in profit for the quarter ended March 31, with the dividend declared alongside those results, India TV reported. A separate Business Today report put September 2025-quarter net profit at ₹4,462 crore, up 2%.

PFC-REC merger: the 88:100 swap

The boards of the two state-run power lenders approved the scheme of merger on Sunday, June 28, 2026, both companies stated in exchange filings. ET Now broke down how the 88:100 share swap will work for shareholders of the two Maharatna PSUs, both of which operate under the administrative control of the Ministry of Power, though their ownership structures differ.

The restructuring plan is already moving the pfc share price. The Financial Express reported that PFC slipped to ₹410, down about 2% intraday, while REC dropped sharply on the day the details surfaced.

Five straight days of gains, 217% in a year

Even with the latest dip, the longer trend has been blistering. Moneycontrol reported that PFC’s stock gained for a fifth straight day, with the government appointing Sandeep Kumar as Director (Finance) at the company. Over the one-year span, the PFC share price has zoomed 217%, doubling investors’ money; the Nifty, in comparison, rose around 26% over the same period.

Other tallies differ slightly but point the same way. Mint calculated a 172% surge over the past year, noting that this nearly tripled investor wealth, and its experts weighed in after the Q4 result on whether PFC remains a buy at current levels.

For shareholders of both PSUs, the operative number now is the 88:100 share swap ratio fixed in the merger scheme.