IRCTC anticipates interim dividend as board prepares for Q2 results review

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IRCTC anticipates interim dividend as board prepares for Q2 results review
Credit: © Reuters.

Indian Railway Catering and Tourism Corporation (IRCTC (NS: INIR )), the sole entity authorized by Indian Railways to manage train food services and online ticket bookings, is set to review its Q2 financial results on Tuesday. The board will also discuss the potential of an interim dividend for FY 2023-24 at this meeting.

In anticipation of the meeting, IRCTC's shares rose by one per cent to Rs 670.6 per share on the National Stock Exchange (NSE). The company has shown a promising trend with its shares increasing by 7.2 per cent in the September quarter, indicating a period of strong growth.

According to an exchange filing citing Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, November 17 has been set as the record date for any interim dividend. This date is crucial in identifying eligible shareholders for dividends.

Since February 24, 2020, IRCTC has announced eight dividends. The most recent of these was an equity dividend of Rs 5.5 per share. The upcoming board meeting and potential interim dividend announcement will be closely watched by market observers and shareholders alike.

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