IRCTC Dividend 2024, IRCTC Dividend 2024 Payment Date: Indian Railway Catering and Tourism Corporation (IRCTC) Limited had earlier declared a 200 per cent final dividend for the financial year ended on March 31, 2024. While the record date and ex-date for the monetary rewards have already passed, the shareholders were keenly awaiting to know the payment date of the dividend.
The payment date for IRCTC Dividend 2024 was supposed to be approved by the public sector undertaking’s (PSU’s) 25th Annual General Meeting (AGM) on August 30.
IRCTC is a PSU that provides ticketing, catering, and tourism services for the Indian Railways. It operates under the administrative control of the Ministry of Railways.
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IRCTC Dividend 2024
The Railway PSU earlier this year in May had announced a dividend payout of 200 per cent on the face value Rs 2 each. Dividend is always calculated on the face value of the stock. Accordingly, the 200 per cent dividend payout translates into Rs 4 dividend per equity share.
“The board of directors of the company…Recommended a Final Dividend of Rs.4/- per share of face value of Rs. 2/- each for the financial year 2023-24l@2oo% of the paid-up share capitall, subject to the approval of shareholders in the forthcoming Annual General Meeting. This Final Dividend is in addition to the interim Dividend of Rs.2.50 /- per share [@125% of the paid-up share capital declared by the Board of Directors in the month of November 2023 and already paid to the shareholders,” IRCTC had informed in the exchange filing.
IRCTC had fixed Friday, August 23, 2024 as the “Record Date” for the purpose of determining the members entitle to receive final dividend for the financial year 2023-24.
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IRCTC Dividend 2024 Payment Date
The payment date for IRCTC Dividend 2024 was approved by the company’s 25th Annual General Meeting (AGM) on August 30. The company will pay a total dividend of Rs 320 crore on 80,00,00,000 equity shares for the financial year 2023-2024.
“To confirm the payment of interim dividend of Rs 2.50/- per equity share [i.e. amounting to {Rs 200 crores on 80,00,00,000 equity shares] and to declare a final dividend of Rs 4.00/- per equity share [i.e. amounting to Rs 320 crores on 80,00,00,000 equity shares for the financial year 2023-24,” said the railway PSU in an exchange filing on August 30.
The AGM was held on Friday, August 30, 2024 at 12.30 PM through Video Conferencing (VC)/Other Audio Visual Means (OAVM).
IRCTC has earlier said that the dividend, if declared at the AGM, will be paid within a period of 30 (thirty) days from the conclusion of the AGM. As approved in the AGM held on August 30, the railway PSU will make the dividend payment within September 28.
IRCTC Dividend History
This year, IRCTC paid a dividend of Rs 4 with an ex-date on August 23. Last year, the railway PSU announced dividends on three occasions – Rs 3.50 in February, Rs 2 in August, and Rs 2.50 in November, respectively. The company declared its first-ever dividend in 2022 of Rs 1.50, as per BSE data.
IRCTC Share Price
Shares of IRCTC Limited closed in green on Friday at Rs 932.45 apiece, up by 0.91 per cent. The scrip registered a high of Rs 948 and a low of Rs 921.85. According to BSE, the railway PSU has a total market cap of Rs 74,596 crore, as of September 1.
