Small Cap PSU Stock Fixes Record Date For Rs 2.20/Share Dividend, Scrip Rallies 5.17%

State-owned small cap company India Tourism Development Corporation Ltd. shares on Monday rallied 5.17% This comes after the Board of Directors of the company fixed the record date for a dividend of Rs 2.20/- per equity share of face value of Rs 10 each for FY 2022-23.

The said dividend is subject to shareholders' approval at the AGM, which is scheduled on Wednesday, Sept 27, 2023.

According to the filing by the Board of Directors of India Tourism Development Corporation Ltd., "the Board of Directors have recommended dividend of Rs. 2.20/- per Equity share of Face Value of Rs. 10/- each for the Financial Year 2022-23, subject to the approval of Shareholders at the ensuing Annual General Meeting to be held on Wednesday, 27th September, 2023."

The Board added, "the Company has fixed Wednesday, 20th September, 2023 as the "Record Date" for determining entitlement of Shareholders for the payment of dividend for Financial Year 2022-23."

The shares closed at Rs 409.85 per share on the BSE with day's highs and lows of Rs 413.40 and Rs 387 on the BSE, respectively. The stock surged 5.74% in 1 week. It surged 13.16% in 1 month. It gained 4.89% in 1 year, 9.44% in 2 years, and 70.10% in 3 years, and 6.21% in 5 years, respectively.
The stock's 52-week high is Rs 428 per share and the 52-week low is Rs 277.50 per share on the BSE. The market cap of the stock is Rs 3,515.26 Crore.

ITDC is a Public Sector Undertaking under the administrative control of the Ministry of Tourism. The company was Incorporated on October 1, 1966, and the company has played a key role in the development of tourism infrastructure in the Country. The Corporation provides a one-stop solution for Travel, Tourism, and Hospitality related needs. At present, the Corporation is running hotels, and restaurants at various places for tourists, besides providing transport facilities.

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