IRFC Share Price Target 2024: Dividend COMING SOON! Railway stock in FULL SPEED

IRFC Dividend 2024 Date Latest News, IRFC Dividend 2024 Announcement, IRFC Share Price Target 2024: Indian Railway Finance Corporation or IRFC shares (railway stock under Rs 200) are in full speed once again. IRFC shares are currently demonstrating a bullish trend. The railway stock traded in the green at Rs 173.35 during Saturday's special trading session.

IRFC is all set to announce dividend for its shareholders. IRFC dividend announcement is scheduled in the Q4 results. If dividend announced by IRFC, then this would be the final dividend by the railway company for the financial year 2023-24.

IRFC board meeting is scheduled to take place on May 20.

"...recommend final dividend for the Financial Year 2023-24, if any, subject to approval of shareholders in the ensuing Annual General Meeting," IRFC said in a filing.

According to Mandar Bhojane, Equity Research Analyst, Choice Broking, IRFC has formed a rounding bottom pattern on the daily chart, accompanied by robust trading volume. This pattern suggest a strong upward trajectory for the stock.

He said that the overall trend for IRFC is bullish. It is advisable to consider buying on dips, especially around Rs 150. The target price is Rs 180-185.

IRFC has fixed the board meeting date. The company has informed through an exchange filing that its board will meet next week to consider and approve the financial statement for the quarter and year ended March 31, 2024.

"...meeting of the Board of Directors of the company is scheduled to be held on Monday, 20th May, 2024," IRFC said in a filing.

"The Audited Financial Results for the quarter and year ended 31st March, 2024 and other financial statements...," the filing added.

As per the BSE website, IRFC had in 2023 paid a dividend of Rs 0.80 in November and Rs 0.70 in September to its investors. In 2022, IRFC paid dividend in November and September -- Rs 0.80 and Rs 0.63, respectively, on each stock. Back in 2021, IRFC rewarded its investors by paying a dividend of Rs 0.77 in November and Rs 1.05 in February.