RITES dividend 2024: Board recommends Rs 5/share dividend alongwith Q4 results, check record and payment dates

The board of RITES Ltd has recommended a final dividend of Rs 5 per equity share, according to a stock market disclosure.

"Recommended Dividend of Rs. 5.00/- per share (i.e. 50%) on 24,03,01,887 equity shares of face value of Rs. 10 /- each of the Company for the financial year 2023-24, subject to approval of the same by the Shareholders in the ensuing 50th Annual General Meeting of the Company. Upon approval of shareholders, the dividend declared will be paid within thirty (30) days of declaration, subject to deduction of applicable Tax at Source as per the provisions of the Income Tax Act, 1961 and rules framed thereunder," the company said in a BSE filing. 

RITES has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement.

RITES Q4 earnings

The company reported a marginal fall of 1.59 per cent in its consolidated net profit to Rs 136.67 crore for the March quarter on account of fall in revenues. It had posted a profit of Rs 138.89 crore for the year-ago period, the company said in an exchange filing.

RITES' total income fell to Rs 667.68 crore in the January-March period from Rs 705.63 crore in the same period a year ago.

Meanwhile, shares of RITES closed trading at Rs 711.05 each, down 3.1 per cent on BSE today.