This Miniratna Fixes Record Date For Dividend; Dividend Yield At Over 6%

Record dates for a corporate action such as dividend are fixed by the company's board of director to determine name of the eligible shareholders for dividend. All eligible shareholders with their names in the list at the end of record date are eligible to receive dividends. As per norms, a minimum gap of 5 working days is to be there between dividend declaration and record date.

Now as we know why record date is critical for dividend and other corporate actions, one of the miniratna firm has fixed the record date for its dividend pay-out. Here are all the relevant details concerning it.

IRFC dividend pay-out

The company has announced a final dividend of Rs. 0.63 per share for Fy2022 and for the same the ex-date is September 15, 2022.

 

IRFC dividend record date and dividend payment

In its filing with the exchanges on Friday, the company informed "Friday, 16th September 2022 has been fixed as the "Record Date" for the purpose of determining the membel.s entitled to receive final dividend for the
financial year 2021-22. The final dividend, if declared at the AGM, will be paid within a period of 30 (thirty) days from the conclusion of the AGM.

With the final dividend, the company's dividend is 14% amounting to Rs. 1.4 for the fiscal year 2022 (interim dividend of Rs. 0.77) and a final dividend of Rs. 0.63. This at the current share price of Rs. 21.25 takes the dividend yield to 6.59%.

IRFC Q1Fy23 scorecard

On a standalone basis, the company's revenue from operation has taken a hit sequentially and came in at Rs. 5627.44 crore. Nevertheless, net profit for the NBFC firm increased both sequentially and YoY to Rs. 1661.58 crore versus Rs. 1501.95 crore in the same period of the previous year.

About IRFC

Indian Railway Finance Corporation is a large cap entity based out of New Delhi. The company is a financing arm under the Ministry of Railways.