Business News | Centre Receives Rs 65 Cr from RITES as Dividend

New Delhi [India], September 1 (ANI): The Centre has received about Rs 65 crore from RITES Ltd as a dividend tranche, the Secretary at the Department of Investment and Public Asset Management posted on its X handle on Friday.

“Government has received about Rs 65 crore from RITES Ltd. as dividend tranche,” the divestment secretary wrote.

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A dividend is a reward companies often provide to their shareholders, though not mandatorily, from a portion of their earnings.

RITES, a Central Public Sector Enterprise under the Ministry of Railways, incorporated in 1974, is a multidisciplinary engineering and consultancy firm. (ANI)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)