Ircon International may issue bonus and interim dividend in February

The engineering and transportation company, Ircon International will have a board meeting on 15th February to debate the issue of bonus and interim dividend. This news impacted shares of the Railway engineering firm sharply as they increased in noon trade.

“Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR), Regulation, 2015}, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 15th February, 2021 , inter-alia to consider & approve: 1. the Interim Dividend, if any, for the Financial Year 2020-21; and 2. the proposal for issuance of Bonus Shares,” Ircon International Limited said in a communication to exchanges.

The PSU Ircon International’s shares were trading 7% higher in noon trade. The firm got listed on the bourses in 2018.

Ircon also reported that the record date for the purpose of payment of Interim Dividend for the Financial Year 2020-21, would be 24th February, 2021, conditional to declaration of the said Interim Dividend by the Board of Directors in its meeting to be held on 15th February, 2021.

Ircon will announce its quarterly results on 13th February.

Ircon is among the five listed Railway companies. The others are RITES Ltd, Rail Vikas Nigam, IRCTC and IRFC.