PSU dividend stock: Shares of state-owned company Rail Vikas Nigam Limited (RVNL) are trading ex-date today, September 23, for a final dividend payment. The Vande Bharat linked company, earlier, announced a 21.1 per cent dividend payment on each stock for the financial year 2023-24. With the current face value of Rs 10, a 21.1 per cent dividend payment translates into Rs 2.11 per equity share.
RVNL Dividend 2024 Record Date
As per a regulatory filing, the company will observe the book closure date from September 24 to 30. Thus, the record date for the final dividend of the financial year ended on March 31, 2024, is September 23 (Monday).
RVNL dividend history
As per the data available on BSE, RVNL has paid dividends of Rs 1.77 and Re 0.36 equity per share in 2023. Similarly, in 2022, the PSU announced dividends of Rs 1.58 and Re 0.25 equity per share.
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RVNL share price
At time of writing this article, RVNL shares were trading in the red at Rs 534.60 per share, down 1.77% against the previous close of Rs 544.25 per share. The PSU dividend stock was trading in the range of Rs 544.90 and Rs 528.65 per share at around 10 AM. At around the same time, around 2.97 lakh shares were changing hands against two weeks’ average quantity of 8.14 lakh shares.
RVNL share price history
As per BSE analytics, as of September 23, RVNL share price has surged by an impressive 113.61 per cent in the last six months, outperforming its benchmark BSE Industrials that gained 31.46 per cent at the same period. On a YTD basis, the PSU dividend stock has jumped 192.95 per cent.
The stock has delivered multibagger returns of 219.81 per cent in the last one year, more than doubling its investors’ wealth.
If we look at the long term, the PSU stock has massively surged by 1418.07, 1663.97, and 1980.31 per cent in the last two, three, and five years, respectively.
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