This miniratna debt-free stock announces record date for final dividend
As a Mini Ratna (Category-I, PSU), RailTel Corporation is one of the largest providers of telecom facilities in the nation.
PremiumAs a "Mini Ratna (Category-I), PSU" RailTel Corporation is one of the largest providers of telecom facilities in the nation. In India, the optic fiber network of RailTel now spans over 61000 route kilometers, 6102+ railway stations, and has citywide access of over 21000 km. Additionally, RailTel offers a variety of public transport services, such as Wi-Fi at all of India's major railway stations and entertainment on-demand services.
For the purpose of final dividend, the Board of the company today has said in stock exchange filings that “Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors of the Company at its meeting held today i.e. Saturday, 09th July, 2022 has recommended a Final Dividend at the rate of 6.5% of paid-up share capital (Rs. 0.65/- per share) for the financial year 2021-22. This Final Dividend is in addition to Interim Dividend of Rs. 1.75/- per share already paid by the Company for the financial year 2021-22. The Final Dividend is subject to approval of shareholders in the ensuing Annual General Meeting (AGM). The Final Dividend would be paid within 30 days from the date of its declaration at the AGM."
On Friday, the stock closed at ₹93.65 level, up by 0.11% from its previous close of ₹93.55. The stock has dropped 33.89 per cent in the past year, and it has dropped 19.99 per cent year-to-date (YTD) so far in 2022. The stock has fallen 22.44 per cent over the past six months, and 3.55 per cent during the past month. RailTel Corporation shares reached a 52-week high of ₹150.40 on July 15, 2021, and a 52-week low of ₹84.00 on March 31, 2022, on the NSE. This means that the stock is now trading 37.73 per cent below the 52-week high and 11.48 per cent above the 52-week low. According to the data from Value Research, the company has no debt and the promoter holding is 72.84 per cent. Based on the last traded price, the stock is trading higher than 5 days and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.
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