37.5% Dividend! Miniratna PSU Stock Approves 1st Interim Dividend, Turning Ex-Dividend On August 07

The Board of Directors of RITES Ltd. in an exchange filing on Friday, July 28, declares 1st interim dividend of Rs 3.75 per share i.e. 37.5% of paid-up capital for the financial year 2023-24. The Board fixed Monday, Aug 07, 2023, as the record date for the declared dividend i.e. 37.5%.

"The Board of Directors have declared first interim dividend for the Financial Year 2023-24 at the rate of Rs. 3.75 per share (37.5% of paid up share capital) of the company. Further, as intimated earlier vide our letter no. RITES/SECY/NSE, dated 17.07.2023, the record date set for the purpose of payment of first interim dividend for Financial Year 2023-24 is August 07, 2023," the Board of Directors of RITES said in an exchange filing.

The shares of RITES on Friday falls 4.30%, ended at Rs 457.25 per share with intraday high and low of Rs 478.75 and Rs 435.95 on BSE, respectively. The stock hit 52-week-high on July 26, 2023, at Rs 509.80 per share and 52-week-low on July 28, 2022.

The stock gained 0.45% in last 1 week. It jumped 17.44% in the last 2 week, while in the last 1 and 3 months, it jumped 21.01% and 18.69%, respectively. It jumped 75.66% in the last 1 year, 64.83% in 2 years, and 89.22% in 3 years, respectively. It gained 116.30% in the last 5 years.

RITES is a Miniratna "Category-1" CPSE under the Ministry of Railways, incorporated on April 26, 1974. It is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services in all facets of transport infrastructure and related technologies. The company has a market cap of Rs 10,987.80 Crore.

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