State-owned company RITES announced a final dividend of Rs 5 per share and a 1:1 bonus share issue earlier in July for its eligible shareholders, while later announcing September 20 as the record date for both in August. This means today is the last day to buy shares of the company in order to qualify for the announced dividend and bonus shares, as they are paid to shareholders listed in the company’s records on the record date.
“Final Dividend, if approved at the Annual General Meeting, will be paid to those shareholders whose name appear in the Register of Members of the Company and to those shareholders whose name appears in the Statements of beneficial ownership furnished by NSDL and CDSL at the end of business hours on Friday, 20th September, 2024 (“Record Date”),” said the company in a filing to the exchanges.
A 1:1 bonus share issue means that for each existing share of the company held, shareholders will receive an additional share credited to their demat account, provided they are eligible.
For eligibility for the aforementioned dividend and bonus shares, a shareholder’s name must appear in the company’s records before the record date. Therefore, shares of the company must be purchased at least one day before the ex-date, as transactions settle the next day.
In most cases, the record date and ex-date are the same. If the record date falls on a market holiday, the ex-date will be the preceding trading day.
In the past 12 months, RITES has declared equity dividends totaling Rs 11.75 per share. With the share price at Rs 681.80, the company’s dividend yield is 1.72%, according to Trendlyne data.
The same data suggests that prior to this, the company issued bonus shares only once, in the year 2019.
The shares of RITES have increased by 33% over the past year, gaining nearly 36% so far in the current year. The stock ended 4.35% lower on Wednesday at Rs 680.40 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
“Final Dividend, if approved at the Annual General Meeting, will be paid to those shareholders whose name appear in the Register of Members of the Company and to those shareholders whose name appears in the Statements of beneficial ownership furnished by NSDL and CDSL at the end of business hours on Friday, 20th September, 2024 (“Record Date”),” said the company in a filing to the exchanges.
A 1:1 bonus share issue means that for each existing share of the company held, shareholders will receive an additional share credited to their demat account, provided they are eligible.
For eligibility for the aforementioned dividend and bonus shares, a shareholder’s name must appear in the company’s records before the record date. Therefore, shares of the company must be purchased at least one day before the ex-date, as transactions settle the next day.
In most cases, the record date and ex-date are the same. If the record date falls on a market holiday, the ex-date will be the preceding trading day.
In the past 12 months, RITES has declared equity dividends totaling Rs 11.75 per share. With the share price at Rs 681.80, the company’s dividend yield is 1.72%, according to Trendlyne data.
The same data suggests that prior to this, the company issued bonus shares only once, in the year 2019.
The shares of RITES have increased by 33% over the past year, gaining nearly 36% so far in the current year. The stock ended 4.35% lower on Wednesday at Rs 680.40 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
