Rs 2.11 Dividend: Multibagger Railway PSU Shares Skyrocket 829% In 2-Yrs, Eligible For Dividend?

Rail Vikas Nigam Ltd shares witnessed strong rally after the railway PSU declared healthy quarterly results and recommended final dividend on May 17, 2024. Last trading price of Rail Vikas Nigam share on BSE is Rs 299.65 per share with intraday gain of 3.06% as on May 18, 2024. Board of Rail Vikas Nigam recommended final dividend of Rs 2.11 per share for the financial year 2023-24. This is RVNL's highest dividend so far. RVNL shares skyrocketed 829% in last 2-years. Life Insurance Corporation Of India (LIC) has 6.00% stake in RVNL with 125,159,994 shares of the company.

FII/FPI have decreased holdings from 2.59% to 2.32% in Mar 2024 qtr. Number of FII/FPI investors increased from 122 to 131 in March 2024 qtr. Number of MF schemes remains unchanged at 17 in March 2024 quarter. More details below:

Rail Vikas Nigam Q4 Results: The railway sector PSU on May 17, 2024 declared a surge of 33.2% year-on-year (YoY) in its net profit to Rs 478.6 crore for Q4 ended March 31, 2024 as against the net profit of Rs 359 crore declared in the corresponding quarter of last year. Its revenue from operations soared 17.4% to Rs 6,714 crore as compared to Rs 5,719.8 crore in the similar quarter of last year. The company's EBITDA, at the operating level, surged 21.8% to Rs 456.4 crore for Q4 of March 2024 quarter as against Rs 374.6 crore in the year ago period. EBITDA margin came at 6.8% for the quarter under review as against 6.6% in the same period of last fiscal.

RVNL Dividend: As per the May 17 BSE filing of RVNL, the board recommended a final dividend of Rs 2.11 per share (i.e. 2 1.10%) on the paid-up equity share capital for the financial year 2023-24 subject to the approval of the shareholders at the ensuing AGM. Final dividend 2023-24 will be paid within 30 days from the date of its declaration at the AGM.

How To Be Eligible For RVNL Dividend? Record date plays key role in deciding eligibility of shareholders for obtaining dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. RVNL has yet to issue the record date for dividend.

RVNL Dividend History: RVNL declared 8 dividends since September 6, 2019. In last 1-year, RVNL announced an equity dividend amounting to Re 0.36 per share. At the current share price of Rs 299.65, RVNL offers dividend yield of 0.12%.

RVNL Share Performance: The 52-week high price of RVNL shares on BSE is Rs 345.60 per share (as on 23/01/2024) and 52-week low price is Rs 110.50 per share (as on 31/05/2023). The company's market capitalisation is Rs 62,477.63 crore. Rail Vikas Nigam Ltd shares offered return of 19% in last 1-month, surged 65% year-to-date (YTD), gained 79% in last 6-months, and gave eye-popping return of 148% in last 1-year. In last 3-years, Rail Vikas Nigam share soared 922%. Rail Vikas Nigam stock soared 1255% in last 5-years.

About: RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.

Disclaimer:

The stock just highlights rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.