2 PSU Stocks Declare Interim Dividend, Fix Record Date, 3 Months Return 166%, 91%

Two Miniratna stocks have declared interim dividend and fixed record date. These stocks are Mazagon Dock Shipbuilders and Cochin Shipyard Ltd. Mazagon Dock Shipbuilders is one of India's leading Defence public sector undertaking shipyard under the Ministry of Defence. Cochin Shipyard Ltd is a fully owned Govt of India company.

If you buy Mazagon Dock and Cochin Shipyard, you will become eligible to receive dividend. Check key takeaways.

1. Mazagon Dock Shipbuilders Announces Interim Dividend

The board of directors of Mazagon Dock stated in the BSE filing, "Approved declaration of Interim Dividend @ 91% being Rs. 9.10 per equity share aggregating to Rs. 183.54 crore to be paid out of the profits of the Company for FY 2022-23. The Board has declared Tuesday, 22 November 2022 as the record date for reckoning eligibility of shareholders for the purpose of payment of Interim Dividend."

The record date for the interim dividend is November 22, 2022.

Stock Outlook: The current market price of Mazgon is Rs 792 apiece with 52-week high at Rs 826 apiece and 52-week low at Rs 224 apiece, respectively. The small cap company has a market capitalisation of Rs 15,974 crore.

Return: The stock has given multibagger returns in 3 months at 166%. In last 1-year, the stock has given returns of 159%.

About: Mazagon Dock Shipbuilders Limited, aptly called "Ship Builder to the Nation", is one of India's leading Defence public sector undertaking shipyard under the Ministry of Defence. Main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development), as per its official website.

2. Cochin Shipyard Ltd Declares Interim Dividend

The board of directors of Cochin Shipyard said in the regulatory filing, "In terms of Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform that, the Board of Directors of the Company at their meeting held today, November 10, 2022 has inter-alia; (a) Declared an interim dividend of Rs. 7.00 per equity share of Rs. 10 each fully paid-up (70%) for the financial year 2022-23; and (b) Fixed Tuesday, November 22, 2022 as the Record Date for the aforesaid interim dividend."

The record date for the interim dividend is November 22, 2022.

Stock Outlook: The current market price of the stock is Rs 639 apiece with 52-week high at Rs 654 and 52-week low at Rs 281 apiece, respectively. The stock has hit its new 52-week high today. The mid cap company has a market capitalisation of Rs 8412 crore.

Return: The stock has given 91% return in last 3 months only. It has given a return of 71% in last 1-year.

About: Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry, according to its official website.

Disclaimer

The PSU Miniratna stocks give details pertaining to interim dividend. 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 taking any investment decision.