indian railway finance corporation dividend 2022, IRFC dividends record date 2022, release date, IRFC stock price NSE: IRFC (Indian Railway Finance Corporation), NSE: IRFC has announced a dividend payment to shareholders or investors. The state-owned company said in a statement to the stock exchange that it would pay a dividend of 8 percent. IRFC is a public sector miner under the Ministry of Railways.
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indian railway finance corporation dividend 2022
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IRFC 2022 stock dividends
According to company documents, IRFC will pay its shareholders a dividend of Rs. 0.80 per share. The par value per IRFC share is Rs. 10.
“Pursuant to Sections 30 and 43 of the SEBI (LODR) Regulations, 2015, as amended from time to time, we are pleased to inform you that the Board of Directors has declared an interim dividend of Rs. 0.80 of Rs. 10 per share.” IRFC stated in a filed statement.
IRFC Dividend Record Date 2022
IRFC also announced a record date for determining shareholder eligibility to receive the dividend. The registration date is Nov. 18. This means that those who hold IRFC stock in demat accounts on Nov. 18 will receive a benefit; those who hold IRFC stock in demat accounts as of Nov. 18 will receive a prize amount paid directly into the bank account linked to their demat account.
In addition, the “record date” for determining shareholder entitlement to such interim dividends, as announced by the Board of Directors in its November 4, 2022 letter, is Friday, November 18, 2022.”
Read more about: Indian Railway Finance Corporation Ltd
IRFC stock ex-eligibility date
IRFC shares trade on the redemption date on the trading day preceding the record date. Thus, IRFC stock will trade without a dividend on November 17.
IRFC Dividend History
IRFC announced a 14% increase in earnings to 171.4 billion rupees in the second quarter of this fiscal year. The company, which is the specialized market borrowing arm of Indian Railways, posted a profit of 1,501 rupees for the same period last year.
The company also reported a 23.88% increase in operating income to 5,810 rupees in the second quarter of fiscal 23, compared with 4,690 rupees in the same period last year.
Indian Railways Finance Corporation pays Rs. 903 crore dividend to government
The central government has received Rs 903 crore and Rs 78 crore as dividend from Indian Railway Finance Corporation Ltd (IRFC) and RITES Ltd respectively.
The Department of Investment and Public Asset Management (DIPAM) released this information via Twitter of DIPAM Secretary Tohin Kant Pandey.
It was also reported that Rs. 50.3 billion and Rs. 6.6 billion were received as dividends from Hindustan Aeronautics Ltd (HAL) and Rashtriya Chemicals and Fertilizers Ltd (RCFL) respectively.
Public Sector Undertakings (PSUs) are required to pay a minimum annual dividend to the government of 30% of profits or 5% of net assets, whichever is higher.