Bharat Dynamics edges higher after board OKs interim dividend, stock split proposals

Bharat Dynamics added 2.13% to Rs 1697 after the company's board approved an interim dividend of Rs. 8.85 per equity share for the financial year 2023-24.

The company has fixed 02 April 2024 as "record date" for the purpose of payment of interim dividend on equity shares for the financial year 2023-24 and the payment of interim dividend will be completed on and before 18 April 2024.

The board of BDL has also approved the sub-division/ split of existing one equity share into two equity shares, subject to shareholders' approval.

The record date for the purpose of above sub-division/ split of equity shares shall be decided after obtaining the approval of the shareholders of the company.

The companys board has accorded its consent to the appointment of G. Gayatri Prasad, general manager (finance) as the chief financial officer of the company, consequent to cessation of N. Srinivasulu as director (finance) and chief financial officer on 31 January 2024.

Bharat Dynamics is engaged in the manufacturing of missiles and allied defence equipments. The company provides majority of its goods and services to the Indian Armed forces and Government of India.

The company's net profit jumped 61.25% to Rs 135.03 crore on a 30.59% increase in sales to Rs 596.35 crore in Q3 FY24 over Q3 FY23.

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