IRCTC declares 100% final dividend for FY23; here's what investors should know
1 min read 29 May 2023, 09:35 PM ISTIRCTC announces a final dividend of ₹2 per share for its shareholders for the fiscal year FY23. This will be in addition to ₹3.5 per share dividend already paid in the fiscal.
PremiumIRCTC, the Indian Railways' catering services provider, ended the fiscal year FY23 with a recommendation of a final dividend on Monday. The company's board of directors has declared a dividend of ₹2 per equity share which would be 100% of the paid-up capital.
In its regulatory filing, IRCTC said, "Recommended a final dividend of ₹2 per equity share of face value of ₹2 each for the financial year 2022-23 (100% of the paid-up share capital of ₹160 crore)."
The final dividend is subject to the approval of shareholders in the forthcoming annual general meeting.
This is in addition to the interim dividend of ₹3.50 per equity share that IRCTC has already paid to the shareholders.
Read here: IRCTC Q4 results: PAT jumps 30% YoY to ₹279 crore; final dividend for FY23 declared
IRCTC will announce the record and payment date for the final dividend in due course. On the record date, generally, a listed company determines the eligible shareholders for the dividend benefits, while the payment date will be usually after the approval for it in the AGM.
With that, IRCTC's total dividend payout in overall FY23 is to the tune of ₹5.5 per share to its shareholders.
In FY22 alone, IRCTC paid a total dividend of 175% aggregating to ₹3.5 per equity share.
On BSE, IRCTC share price closed at ₹645.60 apiece up by 3.40%.
Read here: 2 stocks to pay 125% dividend soon for FY23: Do you own any?
At the current market price, IRCTC's annual dividend yield is at 0.66%.
For the full year FY23, the company posted a revenue of ₹3,541.47 crore as compared to a revenue of ₹1,878.57 crore recorded in FY22.
FY23 profits also picked up to ₹1,005.88 crore as against ₹659.55 crore in FY22.
IRCTC share price will react to its Q4 and year-ended earnings for FY23 on Tuesday. The stock will be in focus due to its financial results and final dividend.
