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Stocks in focus: The Indian Railway Catering and Tourism Corporation or IRCTC shares are going to trade ex-dividend today as the Indian Railways' PSU has fixed 19th August 2022 as record date to finalise eligible shareholders for final dividend payment. The board of directors of IRCTC has already approved final dividend of 1.50 per per equity share for the financial year 2021-22. This final dividend of 1.5 per equity share is in addition to the interim dividend of 2.0 per equity share announced in February 2022.

In its exchange filing, the dividend paying stock had informed Indian stock exchanges about final dividend approval citing, "The Board of Directors of the Company at its meeting held on Monday, May 30, 2022, has inter-alia recommended a Final Dividend of Rs. 1.50/- per equity share of face value of Rs. 2/- each for the financial year 2021-22 [@ 75% of the paid-up share capital of Rs. 160 cr.], subject to the approval of shareholders in the forthcoming Annual General Meeting. This Final Dividend is in addition to the Interim Dividend of Rs.2/- per share declared by the Board of Directors in the month of February 2022 and already paid to the shareholders."

Informing Indian exchanges about the record date for finalising the eligible shareholders for final dividend payment, IRCTC said, "The Company has fixed Friday, August 19, 2022 as the "Gut-off Date" for the purpose of determining the members eligible to vote on the resolutions set out in the Notice of the AGM or to attend the AGM."

Annual dividend yield of IRCTC

IRCTC share price today is 672 apiece and total dividend announced by the company in the financial year 2021-22 is 3.50 ( 2.0 + 1.50). So, current annual dividend yield of IRCTC is 0.52 per cent [( 3.5 / 672) x 100].

After ushering in 2022, IRCTC share price has remained under sell-off heat but from second fortnight of June 2022, it seems that the PSU stock has completed its base building and trying to come out of the consolidation phase. In last one month, it has delivered more than 11 per cent upside movement.

In Q1FY23, IRCTC reported 198 per cent jump in net profit at 245.52 crore. It reported a net profit of 82.52 crore in Q1FY22. IRCTC's revenue from operations soared 250.34 per cent to 852.59 crore in the quarter under review as against 243.36 crore in Q1FY22.

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