2nd Interim Dividend Approved: PSU Navratna Defence Stock Declares 60% Dividend

Leading PSU Navratna stock operating in Defence sector, Bharat Electronics Ltd (BEL) today declared second interim dividend for the financial year 2022-23. The company has already intimated March 25, 2023 as the record date. The second interim dividend is expected to paid within 30 days from the date of declaration. The stock surged 2.32%% in trade today after the announcement of interim dividend. Check details below:

Bharat Electronics Ltd Declares Second Interim Dividend: According to the BSE filing of the company, "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 Re 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.

Bharat Electronics Ltd Stock Performance, Return, & Financial Outlook: Last trading price of BEL is Rs 93.78 apiece with intraday surge of 2.32% at 1:50 pm on BSE (March 17, 2023). The stock's 52-week high is Rs 115.00 apiece and 52-week low is Rs 67.82 apiece, respectively. The large cap stock has a market capitalisation is Rs 68,565.73 crore.

Return: The stock gave a return of 34.38% in last 1-year, 110% return in last 2-years, and 302% return in last 3-years. In last 5-years, it soared 82%. It declined 15% in last 6-months and 6.40% YTD.

Financial Performance: The company for the quarter ended December 31, 2022 declared a consolidated total income of Rs 4,211.76 crore, up 4.37 % from last quarter total income of Rs 4,035.38 crore. It declared its net profit after tax at Rs 603.01 crore in latest quarter.

Bharat Electronics Ltd About: Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India. It manufactures state-of-the-art electronic products and systems for the Army, Navy and the Air Force. BEL has also diversified into various areas like homeland security solutions, smart cities, e-governance solutions, space electronics including satellite integration, etc.

Disclaimer: The stock declared interim dividend today. 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.