IRCTC, the tourism and ticketing arm of Indian Railways, is going to pay ex-dividend today as the board of the company’s public sector undertaking has set a record date for dividend payment.
board of directors of Indian Rail Catering and Tourism Corp (IRCTC) declared an interim dividend of Rs 20,000 in its meeting held on February 9, 2023. 3.50 per equity share of face value 2 which is 175 per cent of the amount of the paid-up share capital 160 crores. It had set the record date at February 22, 2023.
“The Board of Directors of the Company at its meeting held on Thursday, the 9th February, 2023, has declared an interim dividend of Rs.3.50 per share on Equity Shares of face value of Rs.2/- for the financial year 2022. -23, the paid-up shares of 175% of the capital. The Board of Directors has fixed Wednesday, February 22, 2023, as the record date for the purpose of payment of interim dividend. The interim dividend will be paid within 30 days. According to its announcement, “IRCTC said in its filing.
The ex-dividend date is when the price of equity shares of a company gets adjusted for dividend payment. This is one or two business days before the record date. All those shareholders whose names appear in the list of the company as on the end of the record date shall be eligible to receive the dividend.
For the year ending March 2022, IRCTC has declared equity dividend 3.5 per share. This results in a dividend yield of 0.54 per cent at the current share price.
IRCTC reported a consolidated Net Profit increased by 22.8 percent 256 crore for the December quarter (Q3FY23), from 208 crore reported in the year-ago period.
The company’s stock was trading down by 1.76 per cent. 627.90 on BSE.
IRCTC shares is expected to come out of base building mode and may go up 750 each level in the medium term.
On what the chart pattern of IRCTC shares suggests after the strong Q3 results, Sumeet Bagadia, Executive Director, Choice Broking said, “IRCTC shares have found immediate support. since 635 630 each level whereas in case of bounce back it can go up 680 each level at higher levels. on breaking At 680 level, IRCTC share price may go up 710 per share level.”
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