Curated By: Business Desk
Last Updated: October 28, 2023, 18:00 IST
The IRCTC stock experienced a roughly 2 per cent surge.
The Board of Directors will additionally review the unaudited financial results of the company.
The Indian Railway Catering and Tourism Corporation Ltd (IRCTC), which previously distributed a full 100% dividend to its investors, is likely to declare a mid-year dividend soon. The final decision on this matter will be made during the 132nd meeting of the company’s Board of Directors. As per an official filing on the Bombay Stock Exchange (BSE), the meeting is set to take place on Tuesday, November 7, 2023.
The Board of Directors will additionally review the unaudited financial results of the company for the quarter and half-year ending on September 30, 2023. In an official exchange filing, the company stated, “The 132nd meeting of the Board of Directors of the Company is scheduled for Tuesday, November 7, 2023, during which one of the agenda items is to consider and approve the unaudited financial results of the Company for the quarter and half-year ending on September 30, 2023, following their review by the Audit Committee.”
IRCTC has specified that November 17, 2023, is the designated record date for the payment of the interim dividend for the year 2023-24. The record date signifies the date by which an investor must possess shares of a particular company to qualify for participation in corporate events such as dividends, bonus shares, and more. According to the official exchange filing, “In accordance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has set Friday, November 17, 2023, as the Record Date for determining the eligibility of shareholders for receiving the aforementioned Interim Dividend, if approved by the Board of Directors.”
IRCTC has previously disbursed a dividend of Rs 2, equivalent to 100 per cent, to its shareholders. The ex-dividend date for this distribution was August 18. Furthermore, an interim dividend of Rs 3.5 was paid earlier, with an ex-dividend date of February 22, 2023.
The IRCTC stock experienced a roughly 2 per cent increase, reaching an intraday high of Rs 658. Currently, it is up 1.77 per cent and trading at Rs 656.50, while it had closed at Rs 645.10 in the previous trading session.
Over the past 52 weeks, IRCTC shares have traded within a range of Rs 557.15 to Rs 775. The company boasts a market capitalization of Rs 52,720 crore as of October 27, as reported on the BSE website.