Centre receives Rs 65 cr from RITES as dividend

New Delhi [India], September 1 : 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.

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.

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