Bharat Electronics declares second interim dividend, record date next week | Mint – Mint

  • BEL shares were trading more than 2% higher at 94 apiece on the BSE

Bharat Electronics Ltd’s (BEL) board of directors have approved the second interim dividend of 0.60 per share (60%) for FY23 and the record date for the same has been fixed as next week on Saturday, March 25, 2023. The stock was trading more than 2% higher at 94 apiece on the BSE in Friday’s afternoon deals.
“In continuation to 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 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,” Bharat Electronics informed in an exchange filing today.
“We would like to inform you that the Record Date for the purpose of ascertaining the eligibility of the shareholder for payment of Second Interim Dividend on Equity Shares of the Company for the Financial Year 2022-23, if declared, will be Saturday, the 25th March, 2023,” it had said in a filing earlier this month.
For the quarter ended December 2022 (Q3 FY23), BEL’s net profit edged higher to 599 crore on a standalone basis as compared to 583 crore in the same period a year ago. Meanwhile, its revenue from operations rose to 4,065 crore up from 3,661 crore in the same quarter last year.
Led by the government, Bharat Electronics primarily manufactures advanced electronic products for ground and aerospace applications. The company has a Navratna status by the Government of India. BEL shares are up more than 34% in a year’s period.
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