Dividend bonus: RITES gave good news in board meeting, now investors will be happy.

DIVIDEND BONUS: In a board meeting held on Wednesday, state-owned RITES entertained its shareholders by revealing plans to distribute final dividend and issue bonus shares in the ratio of 1:1. The decision was warmly welcomed by investors and considered a good step for the company's future. Each shareholder will get one bonus share for every share he already holds, of Rs 10 per share and Rs 10 per fully paid up share. For this, the company will use money from its capital recovery reserve and free reserve. Based on the company's share capital, investors will soon receive bonus shares, currently 24.03 crore shares, worth Rs 240.30 crore. After the bonus issue, this amount will double to 48.06 crore shares, which is worth Rs 480.60 crore. Shareholders can expect to receive the bonus shares in their demat accounts within two months after the Railway PSU Board's approval, though the exact registration date is yet to be revealed. Also Read: Upcoming IPO: This IPO will create a buzz in the near future and will be profitable till August 8. Shareholders will receive a final dividend amount of Rs 2.50 per share in the first quarter, RITES said in a statement. The financial year will be 2024-2025. In a stock exchange filing, RITES said at a board meeting on Wednesday that the board members approved a first interim dividend of ₹2.50 per share, which is 25% of the paid-up share capital for the current financial year. % is there. Participants must join the group by August 8 to participate. Also Read: Railway major RITES to give good news soon, get bonus shares The post Dividend bonus: RITES gives good news in board meeting, now investors will panic appeared first on Prabhat Khabar.