Bharat Electronics Ltd (BEL) declares record date for second interim dividend
2 min read . Updated: 14 Mar 2023, 06:29 PM IST
Premium- The government of India's Ministry of Defence oversees Bharat Electronics Limited (BEL), a Navratna PSU that develops electronic equipment and commodities for the nation's defence industry.
The government of India's Ministry of Defence oversees Bharat Electronics Limited (BEL), a Navratna PSU that develops electronic equipment and commodities for the nation's defence industry. For the Financial Year 2022–2023, the corporation has established a record date for the second interim dividend.
“In terms of Regulation 42(2) of SEBI (LODR) Regulations, 2015, 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," said the Board of Directors of BEL in a stock exchange filing.
Bharat Electronics has announced an equity dividend of 450.00% at a face value of ₹1, or ₹4.5 per share, for the fiscal year that ended in March 2022. With the share price as it is right now, this generates a dividend yield of 4.85%. Since August 27, 2001, Bharat Electronics Ltd. has issued 46 dividends, according to data from Trendlyne, and in the last 12 months, the company has announced an equity dividend of ₹3.60 per share.
In a board meeting conducted on January 28, 2023, the firm declared its first interim dividend for the fiscal year (FY) 22–23, which is 60%, or Rs. 0.60 per share (on a face value of Rs. 1 per share). The record date was set as February 10, 2023.
Bharat Electronics Limited (BEL) reported revenue from operations of ₹4064.9 crore in the third quarter of fiscal year 23 compared to ₹3660.84 crore reported in the third quarter of fiscal year 22, representing a YoY rise of 11.04%. The company's consolidated net profit rose by 2.87% YoY to ₹613.01 crore in the quarter that ended in December 2022 from ₹595.86 crore in the quarter that ended in December 2021. The EPS of BEL stood at ₹0.83 in Q3FY23 as against ₹0.82 in Q3FY22.
The shares of Bharat Electronics Ltd closed today on the NSE at ₹92.90 apiece, up by 0.60% from the previous close of ₹92.35. The traded volume reached 1,42,85,446 shares compared to the 20-Day average volume of 1,32,55,878 shares. In the last 1 year, the stock has gained 35.58% and on a YTD basis, it has fallen 7.33% so far in 2023. The stock touched a 52-week-high of ₹114.65 on (15-Sep-2022) and a 52-week-low of ₹67.75 on (15-Mar-2022). During Q3FY23, the company reported a promoter shareholding of 51.14%, FIIs stake of 17.34%, DIIs stake of 25.04% and a public stake of 6.47%.