Multibagger railways PSU stock RITES to trade ex-dividend, ex-bonus tomorrow: Check details

RITES share price: Railways PSU stock RITES will trade both ex-dividend and ex-bonus in Friday's trade. The company for the FY ending 2024 announced a final dividend of Rs 5  or 50 per cent and in respect of the same it shall trade ex-dividend tomorrow.

The record date for the said dividend is also September 20, suggesting that investors who hold shares of the Navratna PSU as on the record date will be eligible to get the bonus shares.

As per the Trednlyne data, the company similar to other PSUs has been giving good dividend pay-outs and since 2018 has paid dividend 23 times. In the past 12 months, Rites Ltd. has declared an equity dividend amounting to ₹11.75 per share.

While considering the company's last trading price of Rs 693.5, its dividend yield stands at a good over 2 per cent.

Furthermore, besides the dividend, the company in a bid to reward its investors has also announced the second bonus share issue of 1:1 and in respect of the same the stock shall trade ex-bonus on September 20.

The bonus shares will be distributed among the shareholders and in respect of them record date is set as September 20.

Ahead of the two major corporate actions in the stock, shares traded over 2 per cent higher at Rs 696.4 per share.

RITES share price performance 

The stock in the last 3 years have awarded investors with a return of 148%.