Shares of state-owned RITES Ltd rallied 12.5%, reaching a day’s high of Rs 383.35 on the BSE, as the stock began trading on an ex-dividend and ex-bonus basis today.
Dividend and Bonus Share Details
Earlier in July, RITES had announced a final dividend of Rs 5 per share along with a 1:1 bonus share issue for its eligible shareholders. The company later set September 20 as the record date for both the dividend and bonus shares in an August announcement.
Thursday marked the last day to buy RITES shares to qualify for the dividend and bonus, as shareholders must be recorded in the company’s books before the record date. A 1:1 bonus share issue means that for every existing share held, shareholders will receive an additional share credited to their demat account, provided they meet eligibility requirements.
Dividend Yield and Past Bonus History
In the past 12 months, RITES has declared equity dividends totaling Rs 16.75 per share. With the current share price at Rs 372.30, this brings the company’s dividend yield to 4.50%, according to data from Trendlyne. The same data shows that the last time RITES issued bonus shares was in 2019.
Stock Performance
The shares of RITES have demonstrated positive returns across various time intervals. In the last month, the stock delivered a positive return of 10.15%. Over the past six months, it exhibited strong momentum with returns of 15.97%, indicating a robust performance.
Year-to-date figures further emphasized the stock’s bullish trend, recording an impressive growth of 45.12%. Looking at the broader horizon, the shares have shown consistent strength, given returns of over 44.29% in the last year.
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