Defence PSU major Mazagon Dock Shipbuilders announces stock split, interim dividend: Check details

The defence PSU large Mazagon Dock Shipbuilders successful its committee gathering held contiguous (October 22, 2024) announced a 1:2 banal split. Accordingly, the institution volition divided 1 stock of Rs 10 look worth into 2 shares of look worth of Rs 5, subject to shareholders' approval.

"The grounds day for the intent of supra sub-division/ divided of Equity Shares shall beryllium decided aft obtaining support for sub-division/ divided from the shareholders done postal ballot physics voting process and volition beryllium intimated successful owed course," said the company's filing with the exchanges.

For the unversed, banal divided successful elemental presumption is simply a determination taken by the committee of directors of a institution to disagreement its existing shares into aggregate shares. Simply speaking, the process of dividing the outstanding shares into further smaller shares is known arsenic banal split.

Alongside, the institution has besides announced an interim dividend of Rs 23.19 per equity stock of Rs. 10 each afloat paid-up for the fiscal twelvemonth 2024-25. In respect of the same, the institution has antecedently intimated grounds day arsenic October 30. This means shareholders who volition beryllium holding the banal of Mazagon Dock arsenic connected the grounds day successful their demat relationship volition beryllium entitled to receive the dividend.

Also, the dividend of the aforesaid interim dividend for the FY25 volition be completed connected oregon earlier 20 November 2024