RVNL dividend 2024 announcement: State-owned multibagger railway stock Rail Vikas Nigam Limited has announced a reward for its shareholders for FY24. RVNL, in an exchange filing, has stated that its board of directors has recommended a dividend of 21.10 per cent per share for FY 2023-24. The company has also announced its financial results for the quarter and year ended on March 31, 2024.
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RVNL Q4 Results 2024
RVNL’s profit after tax (PAT) climbed 33.2 per cent year-on-year to Rs 478.4 crore in the quarter under review, as against Rs 359.25 crore reported in the corresponding quarter of FY23.
The company’s revenue from operations jumped 17.4 per cent year-on-year to Rs 6,714 crore in Q4FY24 from Rs 5,720 crore reported in Q4FY23.
RVNL’s EBITDA witnessed a surge of 21.9 per cent year-on-year to Rs 456.34 crore in the quarter under review, as against Rs 374.36 crore reported in the corresponding quarter of FY23.
RVNL Dividend 2024
According to exchange data, RVNL will pay a dividend of Rs 2.11 apiece on each stock having a face value of Rs 10 to its shareholders. The said dividend payout, however, remains to be approved at the ensuing Annual General Meeting of the Company. The next dividend will be paid to shareholders, subject to their eligibility on the record date.
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“Recommended 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 approval of the Shareholders at the ensuing Annual General Meeting (AGM),” said RVNL in a regulatory filing.
RVNL Dividend 2024 Record Date
RVNL, in the exchange filing has also said that the Record Date/Date of Book Closure for payment of Final Dividend would be fixed and intimated in due course. The record date for a dividend is the cutoff date set by a company to determine the eligibility of the shareholders to receive the dividend.
The final dividend, if declared, will be paid within the statutory period of 30 days from the date of approval in the ensuing AGM, said RVNL in the regulatory filing.
RVNL Dividend Yield
At the current market price, RVNL stock has a dividend yield of 0.73 per cent.
RVNL Dividend History
The railway company has a rich history of paying dividends to its shareholders. BSE data reflects that the company has paid an interim dividend of Rs 1.77 and a final dividend of Rs 1.36 in 2023. In 2022, RVNL had paid an interim dividend of Rs 1.58 and a final dividend of Rs 0.25 to it shareholder.
RVNL Share Price History
RVNL is a constituent of S&P BSE 500 index. According to the BSE analytics, RVNL stock has advanced 15.56 per cent in the last three months and 74.15 per cent in the last six months.
Shares of RVNL have emerged as a multibagger in the last one year with a rally of 138.52 per cent during the said period.
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The PSU stock has sprinted 805.76 per cent in the last two years and 1,215.61 per cent in the last five years, showed the BSE data.
The railway company’s shares have a 52-week range of Rs 345.60 – 110.50 on the BSE.
