Dividend stock: RITES Limited share price will be in focus on Friday
Dividend stock: On Friday, when RITES Ltd.’s shares trade ex-bonus and ex-dividend, investors will be eagerly monitoring their price. On Friday, September 20, 2024, is the last day to register in order to get a 1:1 bonus and a ₹5 dividend per share. Therefore, the investors had to purchase RITES Ltd shares at least one day earlier, on September 19, 2024, in order for their names to appear on the owners list by September 20, 2024, and to be eligible for Bonus and Dividend.
As stated in RITES Ltd’s release on the Exchanges, the Dividend was supposed to be paid to shareholders whose names are on the Company’s Register of Members and in the Statements of Beneficial Ownership that NSDL and CDSL have provided, at the close of business on Friday, September 20, 2024 (the “Record Date”).
Furthermore, the September 20, 2024 record date indicated bonus share eligibility. Rites Ltd. has approved a 1:1 Bonus Issue of one (1) equity share for each existing equity share valued at Rs. 10/-per fully paid-up share.
Numerous September events have continued to have an impact on Rites Ltd.’s share price. Rites Ltd. and NBCC partnered on September 4, 2024, to provide advisory services. NBCC (India) Ltd., a CPSE under the Ministry of Housing Development, and RITES Ltd., a leading transport infrastructure consultancy, signed a Memorandum of Understanding (MoU) to explore and execute a broad range of consultancy, fee-based projects, and EPC contracts from concept to commissioning.
Additionally, RITES Ltd. was the Lowest Bidder (L-1) and received the contract awarded by UP State Bridge Corporation Limited. Regarding supervision, monitoring, quality control, and work zone safety during the building of bridges, flyovers, elevated highways, rail over/under bridges, and approaches, RITES will provide Consultancy Services for building of Civil Works (CSC) in several areas. With GST included, the offer is anticipated to be for Rs. 60.03 crore.
