Defence Ministry Receives Rs 92.56 Cr Interim Dividend From Mazagon Dock

Mazagon Dock Shipbuilders Limited (MDL) paid an interim dividend of Rs 92.56 crore to the Ministry of Defence on Wednesday, according to an official statement.

The ministry statement said that the Union Defence Minister Rajnath Singh received an interim dividend cheque of Rs 92.56 crore for the financial year 2020-21 from the Defence Public Sector Undertaking in New Delhi on 3 March. The cheque was handed over by Chairman & Managing Director (CMD), MDL Vice Admiral Narayan Prasad (Retd) to the Defence Minister in the presence of Secretary (Defence Production) Raj Kumar.

"With this, MDL has paid a total dividend of Rs 138.73 crore to the Government of India during FY 2020-21 including final dividend of Rs 46.17 crore for FY 2019-20. The company has declared interim dividend of Rs 109.11 crore at 54.10% of equity capital for FY 2020-21, Government share being 84.83%," the statement added.

Meanwhile, in a stock exchange filing, MDL announced that the commissioning of the 3rd Scorpene Submarine Karanj is scheduled on 10 March 2021 and the sea trials of the first ship Visakhapatnam of Project P-15B, which is due for delivery later this year, has commenced.

Shares of recently listed Mazagon Dock Shipbuilders Limited rose over 1% on Thursday to touch an intraday high of Rs 236.05.