Bharat Electronics pays Rs 3.24 billion as 200% total dividend to Centre

BEL Chairman & Managing Director presented a cheque for Rs. 644.2 million as a final dividend to Defence Minister Nirmala Sitharaman

Bharat Electronics Ltd (BEL) paid Rs 3.24 billion as 200 per cent total dividend for the financial year 2017-18 to the central government, which holds 66 per cent equity shares in the state-run defence behemoth, said a senior official on Thursday.

"Of the Rs 4.90-billion total dividend, which is equivalent to 200 per cent, we paid the government Rs 3.24 billion for holding 66 per cent equity stake in the company on a proportionate basis," BEL Company Secretary S. Srinivas told IANS here.

The company paid Rs 644.2 million on Thursday to the government as a final dividend, equivalent to 40 per cent in proportionate to its equity share of Re 1 face value after paying Rs 2.59 billion as an interim dividend, equivalent to 160 per cent in February.

"The final dividend payout of 40 per cent to all shareholders, including the government, institutions, retail and our employees is Rs 974.6 million and the interim dividend of 160 per cent was Rs 3.93 billion," added Srinivas.

BEL Chairman & Managing Director M.V. Gowtama presented a cheque for Rs. 644.2 million as a final dividend to Defence Minister Nirmala Sitharaman in New Delhi earlier in the day, the company said in a statement here.

The company's blue-chip scrip of Re 1 face value ended at Rs 96.55 per share at the close of Thursday trading on the BSE.