Rail Vikas Nigam declares interim dividend. Record, payment date details here
1 min read . Updated: 24 Mar 2023, 01:00 PM IST
PremiumThe Record date i.e. Thursday, 6th April, 2023 for determining eligibility of shareholders for payment of Interim Dividend has been fixed, said RVNL
Rail Vikas Nigam Ltd's (RVNL) board on Friday has announced the declaration of interim dividend of ₹1.77 per share for the financial year 2022-23 (FY23). Shares of RVNL were trading more than a per cent higher at ₹65 apiece on the BSE in afternoon deals.
“..this is to inform that the Board of Directors of the Company in its meeting held today i.e. 24th March, 2023 have declared an Interim Dividend of ₹1.77/- per equity share of Rs. 10/- each (i.e. 17.7 %) for the financial year 2022-23," RVNL informed in an exchange filing.
The Record date i.e. Thursday, 6th April, 2023 for determining eligibility of shareholders for payment of Interim Dividend has been fixed for the said purpose. Interim Dividend payment will be completed on or before 22.04.2023, it added.
Rail Vikas Nigam Limited is a PSU company, involved in building rail infrastructure. The company executes projects by raising funds via special purpose vehicle (SPV) route on project specific basis and strategic stakeholders.
The company generally works on a turnkey basis and undertakes the full cycle of project development from conceptualization to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management, etc. and all stages of project execution up to the stage of commissioning of the new railway lines.
The government holds 78.2% stake in the railway company as of September 2022. The PSU Railway stock has given return of more than 87% in a year's period. Rail Vikas Nigam shares made their market debut in May 2019 and have rallied about 231% since its listing.