Stock Under Rs 50: Multibagger Large Cap PSU Stock Sets Record Date For Final Dividend

Board of Indian Railway Finance Corporation (IRFC) on Wednesday fixed September 15, 2023 as the record date for final dividend. IRFC shares soared 72% in last 6-months and 128% in last 1-year only. Current market price of Indian Railway Finance Corporation stock is Rs 47.83 apiece with marginal intraday gain of 0.02% on BSE. Check details below:

Indian Railway Finance Corporation Fixes Record Date For Dividend: According to the BSE filing of Indian Railway Finance Corporation dated August 23, 2023, "Friday, 15th September 2023 has been fixed as the "Record Date" for the purpose of determining the members entitle to receive final dividend for the declared at the AGM, will be paid within a period of 30 (thirty) days from the conclusion of the AGM."

IRFC Dividend: The company earlier this year on May 25 recommended the final dividend of Re 0.70 per equity share of Rs 10/- each for the financial year 2022-23, subject to approval of shareholders at the ensuing Annual General meeting (AGM). This is in addition to the Interim Dividend of Rs 0.80/-per equity share declared on 10 th November 2022, thereby making total dividend for the Financial Year 2022-23 to Rs 1.50 per share, on the face value of Rs 10/- each. The Final Dividend for the financial year 2022-23 of Re 0.70 per share, if declared at the ensuing AGM, will be paid to the shareholders within 30 days from the date of AGM.

IRFC Stock Performance & Return: Current market price of IRFC share on BSE is Rs 47.83 apiece. Its 52-week high price is Rs 52.71 apiece and 52-week low price is Rs 20.55 apiece, respectively. The company has a market capitalisation of Rs 62,506 crore. IRFC shares soared 37% in last 1-month, gained 43% in 3-months, jumped 45% YTD, and offered 110% return in last 2-years.

IRFC Financial Outlook: The company for the quarter ended June 30, 2023 declared its standalone total income at Rs 6,681.03 crore, up 6.51% as against its last quarter total income of Rs 6,272.74 crore. IRFC declared its recent quarter net profit after tax at Rs 1,556.57 crore.

About: Indian Railway Finance Corporation (IRFC) is the dedicated funding arm of Indian Railways. The company was set up in December 1986 for mobilizing funds from domestic and overseas markets to meet the pre-dominant portion of Extra Budgetary Resources requirement of Indian Railways. IRFC is a Schedule 'A'/Miniratna Public Sector Enterprise under administrative control of Ministry of Railways, Government of India, according to its official website.

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