Indian Railway Finance Corporation (IRFC) has announced its dividend distribution for the financial year 2023-24.
The shareholders were eagerly waiting for this dividend payment, and the shareholders are also keeping a close eye on the share price of IRFC.
The market capitalization of Irfc is approximately ₹223,275 crore and with this the company is known as one of the largest financial services company in the world. Its share price on January 29, 2024 was ₹ 170.90.
Let us tell you that dividend is a percentage of the earnings paid to the shareholders. In last year’s record, irfc limited paid ₹2.30 for the full year.
IRFC Dividend Record Date 2023
The railway PSU had fixed November 10, 2023 as the record date for payment of interim dividend to shareholders.
IRFC dividend yield
Financial services stocks mostly do not pay dividends, whereas Indian Railway Finance Corporation Limited believes in paying dividends, giving special importance to its shareholders.
In the quarter ended September 2023, Indian Railway Finance Corporation Limited declared a dividend of ₹0.80 which is a dividend yield of 1.32%.
If we look at the ratio related to dividend of Indian Railway Finance Corporation Limited, it is as follows –
- Last Dividend Date: 02/11/2023
- Current Dividend Yield: 1.32%
- Annual Dividend Payment: ₹2.30
Net income of Indian Railway Finance Corporation Limited as of September 2023 quarter was approximately 1.55TCr, which was -9.59% Y/Y.
IRFC Share Price History
Currently, IRFC share price is trading around ₹ 175 per share and has given returns of approximately 347.38% to its shareholders in the last 6 months making it a multi-bagger return stock in the last 6 months. Used to be.
IRFC stock has risen by approximately 447.70% in the last one year. And just in the current year, the stock has seen a rise of almost 70%. The PE of this stock is around 36.60, which shows that it is valued higher than the sector.
Dividend History
The company previously distributed a final dividend of approximately ₹0.7 on September 15, 2023. In 2022, it had also declared a dividend of ₹ 0.80 on 17 November 2022 and about ₹ 0.63 on 15 September 2022. And in 2021 also it had given dividend of around Rs 1.82 twice.
