Top Dividend Paying Railway Stocks In FY2024

As the earnings season is coming to a close, several railway stocks have announced dividends for the year ended March 2024, giving a passive income on top of the fabulous returns these stocks have provided to investors for the past year. Here are the top dividend-paying railway stocks in FY24. 

What Happened: As the railway-related stocks announced their results for the March quarter which is also the last quarter in FY24, RITES emerged as the top dividend-paying company with a total dividend of ₹14.25 per share, in terms of absolute numbers. The company declared a ₹5 dividend in the March quarter apart from the ₹4.5 and ₹4.75 declared in November 2023 and February 2024. 

IRCTC is the second highest with a dividend of ₹6.5. The company declared a final dividend of ₹4 in the March quarter results. Earlier, it had declared an interim dividend of ₹2.5 in November 2023. 

IRCON has declared a total dividend of ₹3.1 for the year as it declared a ₹1.3 dividend in the March quarter along with the interim dividend of ₹1.8 declared in February 2024.

Railway stocks have been a big wealth creator for investors over the past year. IRFC share price has seen more than a 450% increase in the past year. RITES has given a 90% return while IRCTC has zoomed over 60%. IRCON shares have rallied over 230% in the past year. RVNL has also gone up over 200% over the past year.

If a shareholder had put ₹1000 in IRFC, their investment would have grown close to ₹6000 by now. Investments in Jupiter Wagons would have grown to over ₹4000. ₹1000 in Titagarh, Texmaco Rail would have increased to around ₹3000.

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