On Friday, the board of Rail Vikas Nigam Limited (RVNL) decided to pay an interim dividend. 1.77 per share (FY23) for the fiscal years 2022-23. In afternoon deals, RVNL shares were trading at a level 65 of more than 1% on the BSE.
“This is to inform you that the Company’s Board of Directors has 1.77/- per equity share of Rs. at its meeting today, March 24, 2023.” 10/- each, or 17.7%, for the fiscal year 2022-23,” RVNL stated in a filing with the exchange.
For this purpose, the record date for determining shareholders’ eligibility for interim dividend payment has been set for April 6, 2023. On or before April 22, 2023, the interim dividend payment will be completed.
Rail Vikas Nigam Limited is a public sector organization that builds rail infrastructure. Through the Special Purpose Vehicle (SPV) method and by raising funds from strategic stakeholders, the company completes projects on a project-by-project basis.
Interim dividend
The company typically operates on a turnkey basis and completes the entire project development cycle, from concept to commissioning, including stages of design, estimate preparation, contract calling and award, project and contract management, and other tasks. and it is in all project execution phases. Phase of putting new railroad lines into operation.
As of September 2022, the government owns 78.2% of the railway company. Over the course of a single year, PSU Railway stock has returned more than 87 percent. Since their debut on the market in May 2019, Rail Vikas Nigam shares have increased by nearly 231 percent.
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