1:1 Bonus, Rs 5 Dividend: Navratna PSU To Consider Dividend, Results On Nov 6; Record Date Set

Mid cap Navratna PSU RITES Ltd shares jumped 1.05% in trade on BSE today. Last trading price of RITES shares on BSE is Rs 308.50 per share. The PSU informed today about its upcoming meeting of Board of Directors to consider financial results and interim dividend for the FY 2024-25, if announced. RITES shares slipped 16.99% in last 3-months and gained 23% in last 1-year with multibagger returns of 117% in last 3-years.

The civil construction company's market capitalisation stood at Rs 14,826.63 crore. Rites had recommended 1:1 bonus share on July 31 and also a dividend of Rs 5 per share on May 28, 2024. RITES shares traded ex-bonus and ex-dividend on September 20, 2024. Key details below:

RITES Ltd To Consider Results: According to the BSE filing of Rites dated October 17, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 6th November, 2024 inter- alia to consider, approve and take on record Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2024."

RITES To Mull Dividend, Sets Record Date: The BSE filing added, "Pursuant to Regulation 29 and Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Notice is hereby also given that in the said meeting Board may consider payment of Second Interim Dividend, for the F.Y 2024-25, if any. The Company has fixed Friday, 15th November, 2024 as the Record date for the purpose of payment of second Interim Dividend for the F.Y 2024-25, if declared by the Board."

RITES Shares Performance: The 52-week high price of RITES Ltd shares on BSE is Rs 413.08 per share (as on 27/02/2024) and 52-week low price is Rs 216.33 per share (as on 26/10/2023), respectively. RITES shares fell 7% in last 6-months, surged 23% so far in 2024, rose 63% in last 2-years, and rallied 135% in last 5-years.

RITES Dividend In 2024: The exchange filing of RITES Ltd issued as on May 28, 2024 said, "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."

RITES Bonus Share In 2024: The BSE filing of RITES dated Aug 14, 2024 stated, "pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 20th September, 2024 as the Record Date for the purpose of Bonus Issue.

About RITES Limited: RITES Limited is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India. It has diversified services and geographical reach. The company has an experience spanning 49 years and undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and Middle East region.

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