Key Points of Rail Vikas Nigam Interim Dividend News:
- Rail Vikas Nigam announced an interim dividend of ₹1.77 per share for FY23.
- RVNL specializes in building rail infrastructure through the SPV route and strategic stakeholders.
- RVNL undertakes the full cycle of project development from conceptualization to commissioning.
- The government holds a 78.2% stake in RVNL as of September 2022.
- RVNL’s stock has given a return of over 87% in a year’s period.
- The record date for determining the eligibility of shareholders for payment of interim dividend is 6th April 2023.
- RVNL’s shares have rallied about 231% since its listing in May 2019 and may be worth considering as a PSU railway stock to invest in.
Details of Rail Vikas Nigam Interim Dividend News:
Rail Vikas Nigam Ltd (RVNL) announced on Friday the declaration of an interim dividend of ₹1.77 per share for the financial year 2022-23 (FY23), as per an exchange filing. RVNL is a Public Sector Undertaking (PSU) company that specializes in building rail infrastructure. Its projects are funded through a special purpose vehicle (SPV) route on a project-specific basis and strategic stakeholders.
RVNL generally undertakes the full cycle of project development, from conceptualization to commissioning, including design, preparation of estimates, award of contracts, project and contract management, and all stages of project execution up to the commissioning of new railway lines.
The government holds 78.2% stake in the railway company as of September 2022, and RVNL’s stock has given a return of over 87% in a year’s period. RVNL’s shares were trading over 1% higher at ₹65 per share on the Bombay Stock Exchange during afternoon deals.
The record date for determining the eligibility of shareholders for payment of interim dividend has been fixed for Thursday, 6th April, 2023, and the payment of interim dividend will be completed on or before 22nd April 2023.
RVNL’s shares made their market debut in May 2019 and have since rallied about 231% since its listing. If you’re looking for a PSU railway stock to invest in, RVNL may be worth considering.
About Rail Vikas Nigam:
Rail Vikas Nigam was Incorporated in 2003 by the Govt. of India, it is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
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