September 20, 2024
New Delhi, India
RITES Shares
RITES Ltd, a state-owned railway consultancy firm, saw its shares rally by 12.5% on September 20, 2024, reaching a day’s high of ₹384 on the National Stock Exchange (NSE). This surge follows the company’s stock going ex-dividend and ex-bonus.
Dividend and Bonus Issue Details
In July 2024, RITES announced a final dividend of ₹5 per share and a 1:1 bonus share issue, where eligible shareholders would receive one additional share for every share held. The record date for the dividend and bonus was set as September 20, 2024, requiring investors to hold shares by September 19 to qualify.
- Bonus Issue: 1:1 (One additional share for every share held)
- Dividend: ₹5 per share (50% for FY2023-24)
- Record Date: September 20, 2024
This is the first bonus issue from RITES since 2019, and with a total dividend of ₹16.75 per share declared over the past year, the company’s dividend yield stands at 4.50%, according to Trendlyne data.
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Stock Performance
RITES shares have demonstrated strong growth:
- Past Month: +10.15%
- Past Six Months: +15.97%
- Year-to-Date: +45.12%
- Annual Return: +44.29%
These returns reflect consistent momentum and robust performance, boosted by positive market sentiment and the company’s strong fundamentals.
RITES Dividend History
For the fiscal year ending March 2024, RITES declared an equity dividend of ₹18 per share (180%), marking its 23rd dividend payout since 2018. This trend underscores the company’s commitment to rewarding its shareholders.
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