Last Updated: March 17, 2023, 14:55 IST
PSU defence inventory Bharat Electronics (BEL) has accepted a second interim dividend of Re 0.6 per share for the present monetary yr 2022-23. The firm has fastened March 25 because the file date to find out the eligibility of shareholders for the fee of mentioned dividend.
“The Board of Directors of the corporate at its assembly held on 17 March declared a second interim dividend of Re 0.60 (60 per cent) per fairness share of Re 1 every absolutely paid-up for the monetary yr 2022-23,” the company said in a filing.
The record date for the same has been fixed as next week on Saturday, March 25, 2023. The stock was trading more than 2 per cent higher at Rs 94 apiece on the BSE in Friday’s afternoon deals.
“We would like to inform you that the Record Date for the purpose of ascertaining the eligibility of the shareholder for payment of Second Interim Dividend on Equity Shares of the Company for the Financial Year 2022-23, if declared, will be Saturday, the 25th March, 2023,” it had mentioned in a submitting earlier this month.
The shares of the corporate will go ex-dividend a day or two days earlier than the file date. When an organization goes ex-dividend on a specific date, its inventory doesn’t carry the worth of the following dividend fee.
BEL has paid an interim dividend of Rs 3.60 per share within the final 12 months, leading to a dividend yield of three.84%.
The PSU defence firm lately reported a marginal 3% rise in its internet revenue to Rs 599 crore within the third quarter as towards Rs 583 crore in the identical interval a yr earlier. Meanwhile, internet gross sales of the corporate rose 10% year-on-year to Rs 4,046 crore throughout the identical interval.
Led by the federal government, Bharat Electronics primarily manufactures superior digital merchandise for floor and aerospace functions. The firm has a Navratna standing by the Government of India. BEL shares are up greater than 34 per cent in a yr’s interval.
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