This debt-free miniratna share announces a record date for the final dividend

As “Mini Ratna (Category-I), PSU”, RailTel Corporation is one of the largest providers of telecommunications facilities in the country. In India, RailTel’s fiber optic network now spans over 61,000 kilometres, over 6,102 stations and has city-wide access for over 21,000 km. Additionally, RailTel offers a variety of public transport services, such as Wi-Fi at all major railway stations in India and on-demand entertainment services.

For purposes of the final dividend, the company’s board of directors said in stock exchange filings today that “pursuant to Regulation 30 of the SEBI (Registration and Disclosure Requirements) Regulations, 2015, this is to inform that the board of directors of the company during its meeting held today, i.e. Saturday, July 09, 2022, recommended a final dividend at the rate of 6.5% of the paid-up share capital (0.65 rupees/- per share) for the financial year 2021-22 This final dividend is in addition to the interim dividend of Rs. 22. The final dividend is subject to shareholder approval at the following Annual General Meeting (AGM) The balance of the dividend would be paid within 30 days from the date of its declaration at the AGM. “

On Friday, the stock closed at Level 93.65, up 0.11% from its previous close of 93.55. The stock has fallen 33.89% over the past year and 19.99% year-to-date (YTD) so far in 2022. The stock has fallen 22.44% over the past last six months and 3.55% over the past month. RailTel Corporation shares hit a 52-week high 150.40 on July 15, 2021 and a 52 week low of 84.00 on March 31, 2022, on the NSE. This means the stock is now trading 37.73% below the 52-week high and 11.48% above the 52-week low. According to data from Value Research, the company has no debt and the sponsor’s stake is 72.84%. Based on the last traded price, the stock is trading above the 5-day and 20-day moving averages, but below the 50-day, 100-day and 200-day moving averages.

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