Highest ever dividend of 153%: This PSU defence stock declares record date and payment date - Details

Mazagon Dock Dividend Record Date 2023: Mazagon Dock Shipbuilders Limited, one of India's leading defence public sector undertaking (PSU) shipyards under the Ministry of Defence, has announced the highest-ever dividend. The board of directors of the PSU has approved the interim dividend and as a result, it will pay Rs 309.39 crore to shareholders from the profit of the company.

Mazagon Dock Dividend 2023

The board of directors of the company has approved an interim dividend of Rs 15.34 per equity share with a face value of Rs 10. 

"approved declaration of interim dividend @ 153% being Rs 15.34 per equity share aggregating to Rs 309.39 crore to be paid out of the profits of the company for the financial year 2023-24," the company said in an exchange filing. 

This is the highest-ever dividend announced by Mazagon Dock, which is into the construction of warships and submarines. Earlier, the highest amount it paid as a dividend was Rs 9.1.  

Mazagon Dock Dividend 2023 Record Date

Mazagon Dock Shipbuilders Limited has fixed November 20 as the record date to define the eligibility of shareholders for this interim dividend. 

"The Board has declared Monday, 20 November 2023 as the record date for reckoning eligibility of shareholders for the purpose of payment of interim dividend," it said.

The record date is an important date as it helps companies identify shareholders who will be eligible to receive the dividend.

Mazagon Dock Dividend 2023

According to the company, the interim dividend will be credited into the accounts of eligible shareholders on or before December 7, 2023.

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"The interim dividend shall be paid on or before 07, December 2023," the filing reads.

Mazagon Dock Dividend 2023: Dividend History 

Meanwhile, the share price of Mazagon Dock Shipbuilders Limited was up by 0.45 per cent to trade at Rs 2006.90 on the BSE on Thursday at around 12 noon. The stock has been gaining for the last two days has and risen around 1.37 per cent in the same period. Also, the company has a return on equity (RoE) of 24.52 per cent and a dividend yield of 1.11 per cent.