Dividend stock: IRCTC share price in focus as stock trades ex-dividend today | Mint
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Business News/ Markets / Stock Markets/  Dividend stock: IRCTC share price in focus as stock trades ex-dividend today
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Dividend stock: IRCTC share price in focus as stock trades ex-dividend today

IRCTC board has declared ₹2.50 per share interim dividend for the financial year 2023-24

IRCTC dividend 2023: Indian Railways' PSU stock is trading ex-dividend for third time in 2023.Premium
IRCTC dividend 2023: Indian Railways' PSU stock is trading ex-dividend for third time in 2023.

Stock in focus: Indian Railway Catering and Tourism Corporation or IRCTC share price will be under scruitiny of Indian stock market observers and investors during Friday deals as the Indian Railways' PSU stock is trading ex-dividend today. The board of directors of the company has declared 2.50 per share interim dividend for the financial year 2023-24. The dividend stock also fixed 17th November 2023 as record date for finalisation of eligible shareholders for interim dividend payment.

IRCTC dividend

Informing Indian stock market exchanges about interim dividend, IRCTC said, "The Board of Directors of the Company at its 132" meeting held on Tuesday, November 07, 2023 has inter-alia: a) Declared an Interim Dividend of Rs.2.50/- per share on Equity Shares of face value of Rs.2/- each for the FY 2023-24 (i.e., @125% of the paid-up share capital amounting to Rs.160 Crore). b) Fixed Friday, 17" November, 2023 as the Record Date for the purpose of payment of Interim Dividend of the FY 2023-24."

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IRCTC dividend history

This is third occasion when IRCTC is trading ex-dividend in 2023. Prior to this, IRCTC traded ex-dividend on 18th August 2023 for finalising list of eligible IRCTC shareholders for payment of 2 per share final dividend for the financial year 2022-23. On 22nd February 2023, IRCTC shares traded ex-dividend for the first time for payment of 3.50 per share interim dividend to its eligible shareholders.

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IRCTC dividend in 2023

So, IRCTC has declared total dividend of 8 per share ( 3.50 + 2.00 + 2.50). At the end of December 2022, IRCTC share price was around 635 per share levels. So, IRCTC dividend yield in 2023 is 1.25 per cent.

IRCTC Q2FY24 results

In second quarter of the current financial year, IRCTC reported a rise of 30.4 per cent in net profit at 294.7 crore, compared to 226 crore in the corresponding period last year. The Indian Railways' e-ticketing arm's revenue from operations in the second quarter of current fiscal stood at 995.3 crore, registering a growth of 23.5 per cent, compared to 805.8 crore in the year-ago period.

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On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in the September quarter came in at 366.5 crore, registering a growth of 20.2 per cent, compared to 304.9 crore in the same period last year.

EBITDA margin stood at 36.8 per cent in the quarter-under-review, compared to 37.8 per cent in the year-ago period. IRCTC's internet ticketing revenue rose marginally at 0.1 per cent at 327.5 crore, compared to 300.3 crore in the year-ago period.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 17 Nov 2023, 09:26 AM IST
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