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Here are the 3 stocks from the defense sector that have declared an Interim Dividend for the Financial Year 2022-23. These three stocks namely Mishra Dhatu Nigam Ltd., Hindustan Aeronautics Ltd., and Bharat Electronics Ltd. come under the Ministry of Defence, Govt. of India. Check below to know more:
1. Mishra Dhatu Nigam Ltd. (MIDHANI)
MIDHANI is a small cap PSU stock operating under the Ministry of Defense. It manufactures superalloys, titanium, special purpose steel and other special metals for defense, and other strategic materials.
The stock of MIDHANI last traded at Rs 189.40/share. The stock declined 5.82% in 1 week. It gained 12.24% in 1 year and declined 5.86% in 3 years, respectively. It has a market capitalisation of Rs 3,548.22 crore.
Interim Dividend
On March 15, 2023, the stock declared 16.80% interim dividend. The record date for the dividend is set as 23rd March 2023.
The company its exchange filing on March 15, 2023, said, "This is to inform you that, the Board of Directors of the Company at its meeting held today, i.e. 15th March, 2023 has inter-alia approved declaration of Interim Dividend Rs. 1.68/- per equity share (@16.80%) of Rs. 10/- each for the financial year 2022-23. Further, in reference to our intimation letter MDN/CS/BM-273/2022-23 dated 1st March, 2023, the record date for aforementioned interim divided shall be Thursday, 23rd March, 2023."
2. Hindustan Aeronautics Ltd. (HAL)
HAL is engaged in the business of Manufacture of Aircraft and Helicopters and Repair-Maintenance of Aircraft and Helicopters. It is a large-cap stock having a market capitalisation of Rs 93,593.39 crore.
The stock of HAL last traded at Rs 2,798.95/share. It has given 1.77% negative return in 1 week and 6.05% positive return in 1 month. In 1 year it gave 93.59% positive return and a massive 405.85% return in 3 years, respectively.
Interim Dividend
On March 10, 2023, the stock declared 2nd interim dividend of Rs 20/share i.e. 200%. The record date for the declared dividend is set as 20th March 2023.
According to the regulatory filing by the company on March 10, 2023, "The Board of Directors of the Company has, inter-alia, declared second interim dividend of Rs. 20 per equity share of Rs. 10/- each fully paid up (200%) for the Financial Year 2022-23. As informed earlier, Record date for the payment of second interim dividend will be Monday, the 20th March, 2023."
3. Bharat Electronics Ltd.
Bharat Electronics is a PSU Navratna Stock engaged in the manufacturing of electronic products and systems for the Army, Navy and Air Force. It is a large-cap stock having a market capitalisation of Rs 68,273.33 crore.
The stock of Bharat Electronics last traded at Rs 93.40/share. It gained 33.81% in 1 year and 87.8% in 5 years, respectively. Whereas, in 3 years it gave a multibagger return of 302.01%. However, in 1 week it declined 1.58%.
Interim Dividend
On March 17, 2023, the stock declared 2nd interim dividend of Rs 0.60/share i.e. 60%. The record date for the declared dividend is set as 25th March 2023.
According to the regulatory filing by the Board of Directors of Bharat Electronics Ltd, "In continuation to our earlier letter dated 2nd March, 2023 we wish to inform you that Board of Directors of the Company at its meeting held on 17th March, 2023, inter alia, has declared second interim dividend of Rs 0.60/- (60%) per equity share of Rs 1/- each fully paid-up for the financial year 2022-23. The second interim dividend will be paid within 30 days from the date of declaration. The Record date of 25th March, 2023 as intimated earlier continues to hold good for the purpose."
Disclaimer
The above-mentioned information is purely informational. The article should be treated as informational and not an advisory to invest. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.
