3.75/Share Dividend: Board Of Mid Cap Miniratna Company Approves Dividend, Sets Record Date

Board of mid cap company RITES Limited, a Miniratna (Category-I) and Schedule 'A' Central Public Sector Enterprise under Railway Ministry approved first interim dividend for financial year 2023-24 at the rate of 3.75 per share. The PSU company fixed August 7, 2023 as the record date for interim dividend payment. RITES shares offered 76% return in last 1-year. Check details below:

RITES Approves Interim Dividend, Sets Record Date: As per the BSE filing of RITES Ltd dated July 28, 2023, "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."

RITES Dividend History: The company declared 18 dividends since September 11, 2018. It offers a dividend yield of 3.93% if the last trading price of Rites share is taken into consideration, according to Trendlyne.

RITES Stock Outlook & Return Over Years: Last trading price of the PSU stock is Rs 457.25 apiece with intraday fall of 4.30%. Its 52-week high price is quoted at Rs 509.80 per share and 52-week low price is quoted at Rs 252.90 per share, respectively. Its market capitalisation is Rs 10,987.80 crore. RITES stock delivered 19% return in last 3-months, jumped 36% in last 6-months, offered 76% return in last 1-year, rallied 65% in last 2-years, and gave return of 116% in last 5-years.

RITES Recent Quarterly Results: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 705.63 crore, up .32% from preceding quarter total income of Rs 703.38 crore. It declared its latest quarter net profit after tax at Rs 139.22 crore

RITES About: RITES is a leading player in the transport consultancy and engineering sector in India and uniquely placed in terms of diversification of services and geographical reach in various sectors such as railways, highways, urban engineering (metros) & sustainability, airports, ports, ropeways, institutional buildings, inland waterways, and renewable energy. The company is the only export arm of Indian Railways for providing rolling stock, other than Thailand, Malaysia, and Indonesia RITES became a listed company in July 2018, and it has made it to the Top-500 listed Indian companies based on its market capitalization, according to its official website.

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