Miniratna PSU Stock Recommends Rs 1.05/Share Final Dividend, Shares Jumps 25.02% In 3 Months

Railtel Corporation of India Ltd. in a Board meeting held on Sunday, Jul 09, 2023, has recommended a Final Dividend at the rate of 10.5% of paid-up share capital (Rs. 1.05/- per share) for the financial year 2022-23.

The said dividend is subject to approval in the forthcoming AGM. According to the filing, the said dividend would be paid within 30 days from the date of its declaration at the AGM.

Intimation of Board Meeting

The company in an exchange filing has said, "the Board of Directors of the Company at its meeting held today i.e. Sunday, 09th July, 2023 has recommended a Final Dividend at the rate of 10.5% of paid-up share capital (Rs. 1.05/- per share) for the financial year 2022-23. This Final Dividend is in addition to Interim Dividend of Rs. 1.50/- per share already paid by the Company for the financial year 2022-23. The Final Dividend is subject to approval of shareholders in the ensuing Annual General Meeting ("AGM"). The Final Dividend would be paid within 30 days from the date of its declaration at the AGM."

Stock Outlook

On Monday, the share price of Railtel Corporation of India is Rs 131.30 on BSE, trading 1.20% down from its previous close of Rs 132.90. Today it opened at Rs 133.90. Its 52-week low is Rs 93 and its 52-week high is Rs 148.70 on BSE.
The stock surged 1.04% in the past 1 week, while in the past 3 months, it jumped 25.02%. It jumped 39.43% in the past 1 year. In the past 2 years, it has fallen 8.19%.

About - Railtel Corporation of India Ltd.

Incorporated on September 26, 2000, RailTel Corporation of India is a "Mini Ratna (Category-I)" PSU. It is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optical fiber network. It is a small-cap company under the Ministry of Railways. The company has a market capitalisation of Rs 4202.69 Crore.

Disclaimer

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