RITES declares second interim dividend of Rs4 per share; Begins export shipments to Sri Lanka and Mozambique

RITES announced that the board of directors declared a second interim dividend of Rs4 per share on the share with a face value of Rs10 each.

Mar 15, 2021 03:03 IST India Infoline News Service

RITES
RITES board of directors have declared the second interim dividend for the financial year FY21. Also, the company commenced the export shipments to Sri Lanka and Mozambique.

In its regulatory filing, RITES announced that the board of directors declared a second interim dividend of Rs4 per share on the share with a face value of Rs10 each (at the rate of 40% of paid-up capital).

RITES highlighted that the second interim dividend brings the company’s total dividend for FY21 so far, to Rs9 per share amounting to Rs216.27cr. The record date for payment of the dividend is 20th March 2021. 

Also, in another development, RITES commences export shipments to Sri Lanka and Mozambique.

On export shipments, Rajeev Mehrotra, Chairman & Managing Director, RITES Ltd, said, “For exports, new product lines in Railways are way forward and such products demonstrate India’s ‘design, manufacture and export capabilities. We hope the project of supplying Cape Gauge locomotives to Mozambique will open up more export opportunities, for us, in new markets."

Further, the 10 state-of-the-art railway passenger coaches have been successfully delivered to Sri Lanka and the first shipment of two 3000 HP Cape Gauge AC-AC locomotives has been flagged off to Mozambique.

At around 3.11 pm, RITES was trading at Rs257.75 per piece down by 0.8% on Sensex.

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