Rail Vikas Nigam declares interim dividend, fixes record date

Rail Vikas Nigam (RVNL) has declared interim dividend of ₹1.58 per share of ₹10/- each (i.e. 15.80%) for the financial year 2021-22. Shares of Rail Vikas Nigam were trading over 1% higher at ₹33 apiece on the BSE in Wednesday's afternoon deals.

The record date has been fixed on Friday, 25th March, 2022 for determining eligibility of shareholder for payment of Interim Dividend has been fixed for the said-purpose, the company had announced. The company added that interim dividend payment will be completed on or before April 14, 2022.

The PSU Railway stock has declined about 7% in 2022 (year-to-date or YTD) so far, whereas the stock has surged over 8% in a year's period. Rail Vikas Nigam Limited is a PSU company, involved in building rail infrastructure. The government holds 78.2% stake in the railway company as of December 31, 2021.

Rail Vikas Nigam's consolidated net profit for the third quarter (Q3) rose 4% to ₹293 crore whereas its sales jumped over 35% year-on-year (YoY) to ₹5,049 crore as of quarter-ended December 2021.