IRFC Declares Second Interim Dividend
IRFC had previously declared a dividend of Rs 0.70 per equity share in August 2024.
Indian Railway Finance Corp. has announced an interim dividend of Rs 0.80 per equity share, according to an exchange filing on Monday.
The public sector undertaking fixed March 21 as the record date to determine shareholders eligible for the interim dividend. Only those shareholders, whose names appear on the register of members of the company, or in the records of depositories as beneficial owners on the record date, will be eligible for the dividend payout.
The government upgraded IRFC recently to a 'Navratna' central public sector enterprise. The PSU became the 26th company to receive this status.
This marks the second interim dividend the company has issued in the current fiscal. The PSU had previously declared a dividend of Rs 0.70 per equity share, with a face value of Rs 10 in August 2024.
IRFC posted a 2% rise in its net profit in the third quarter of the current fiscal. The PSU posted a profit of Rs 1,631 crore in the quarter ended Dec. 31, 2024, as compared to Rs 1,593 crore in the same period last year.
Shares of IRFC closed 0.92% higher at Rs 117.69 apiece on the NSE, compared to a 0.5% advance in the benchmark NSE Nifty 50. The stock has fallen 4.41% in the last 12 months. The relative strength index was at 41.9.
One analyst tracking the company recommends a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 57.9%.
