Multibagger defence PSU stock declares dividend, record date fixed

State-run defence company declared an interim dividend of Rs 9.1/share for FY23. The company's board has fixed November 22 as the record date for determining the eligibility of the shareholders for the dividend.

The said dividend shall amount to Rs 183.54 crore dole out by the leading shipbuilding yard in India.

For FY2022, the company declared an equity dividend of 87.30%, amounting to Rs 8.73/share. At the current share price of Rs 778.50, this results in a dividend yield of 1.12%.

Since February 22, 2021, the company has declared 5 dividends.

For the September quarter, the company’s consolidated profit after tax rose 58% YoY to Rs 213.90 crore against Rs 135.03 crore in Q2FY22.

On a year-to-date basis, the stock has yielded 182% returns, while its 1-year return is at 157%.

Mazagon Dock Shipbuilders is a Miniratna company that offers service to the shipping world in general and the Indian Navy & Coast Guard. The company’s m-cap is around Rs 15,800 crore.