PSU Dividend Alert: This company to pay 8.85 per share to shareholders, split stock [Video]

State-run defence equipment manufacturer Bharat Dynamics Ltd. on Thursday declared an interim dividend of ₹8.85 per equity share for the financial year 2023-24.

The company has fixed April 2, 2024 as the record date for the said dividend. The payment of the interim dividend will be completed on and before April 18, 2024, the company said in a filing.

In September last year, Bharat Dynamics had paid a dividend of ₹1.2 per share, following a ₹8.15 per share payout in February 2023.

Besides, the company has also announced a 1:2 stock split. This means that one equity share with a face value of ₹10 will be split into two equity shares with a face value of ₹5.

Record date for the stock split will be determined once the proposal is approved by shareholders of the company. The entire process will be completed within 2-3 months of the shareholders’ approval.

Complying with the Department of Investment and Public Asset Management (DIPAM) guidelines on capital restructuring, to encourage the participation …