1:2 Split: Miniratna Defence PSU Splitting Soon, Fixes Record Date For Rs 8.85/Share Dividend; Do You Own?

Miniratna defence PSU, Bharat Dynamics has announced a host of rewards for its investors. On March 21, while the defence giant fixed a record date for an interim dividend payout of Rs 8.85 per share, it also declared its decision for splitting in the ratio of 1:2. Currently, Bharat Dynamics share price is at Rs 1,661.55 apiece.

Bharat Dynamics Dividend:

In a meeting held on Thursday, the company's board of directors declared an interim dividend of Rs 8.85 per share having a face value of Rs 10 each fully paid-up for the financial year 2023-24.

For the same, BDL fixed April 2 as the record date to determine eligible shareholders for the payment of Interim Dividends on equity shares for the Financial Year 2023-24.

The payment of Interim Dividend will be completed on and before 18 April 2024.

Bharat Dynamics Stock Split:

BDL will split for the first time. As per the regulatory filing, the board approved the sub-division/ split of existing 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of the face value of Rs. 5/- (Rupees Five Only) each fully paid up, subject to shareholders' approval.

Accordingly, BDL shares will split into a 1:2 ratio.

However, the record date for the stock split will be announced in due course.

BDL said, "The record date for the purpose of sub-division/ split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders through postal ballot electronic voting process and will be intimated in due course."

BDL Other Developments:

Apart from this, the company's board also approved the appointment of G. Gayatri Prasad, General Manager (Finance) as the Chief Financial Officer of the Company, consequent to the cessation of Shri N. Srinivasulu as Director (Finance) and Chief Financial Officer on 31 January 2024.

BDL Share Price:

BDL's share price ended at Rs 1,661.55 apiece on BSE, up by 2.6% with a market cap of Rs 30,453.10 crore.

BDL's 52-week high and low are at Rs 1,984.40 apiece and Rs 879 apiece respectively.

BDL's Earnings:

For the nine-months period, BDL posted revenue from operations to the tune of Rs 1,515.15 crore, compared to revenue of Rs 1,691.13 crore in the corresponding period a year ago.

Meanwhile, 9MFY24 net profit is at Rs 323.94 crore, higher from Rs 199.41 crore in the same period last year.

About BDL:

Headquartered in Hyderabad, Bharat Dynamics Limited (BDL), was incorporated on 16 July 1970 as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces.

The Miniratna company since its inception has been working in collaboration with DRDO & foreign Original Equipment Manufacturers (OEMs) for the manufacture and supply of various missiles and allied equipment to the Indian Armed Forces.

BDL has evolved as one of the few industries in the world having state-of-the-art facilities for the manufacture and supply of Guided Missiles, Underwater Weapons, Airborne products and allied defence equipment for the Indian Armed Forces. The Company also offers Product Life Cycle Support and Refurbishment / Life Extension of vintage Missiles.