Business
Bharat Electronics announces record date for interim dividend of Rs 1.95 per share
The record date of a dividend is the cut-off date set by a company to determine which shareholders are eligible to receive the declared dividend.
BEL dividend history / dividend yield
The PSU company has declared 51 dividends since August 29, 2003. In the past 12 months, Bharat Electronics has declared an equity dividend amounting to ₹2.40 per share, according to Trendlyne. At the current share price of Rs 444.70, Bharat Electronics’s dividend yield is 0.54%.
BEL share price performance
BEL shares ended at Rs 444.70 on the NSE on Friday, declining by 4.35 or 1% over the Thursday closing price.
The Nifty stock has had a stellar run on the D-Street, delivering 74% returns in the past 12 months. It is the second best performer n the frontline index and only behind Shriram Finace whose returns of 78%, remain ahead.
Meanwhile, Nifty and the BSE Sensex have yielded 12% and 9% in the same period.BEL shares are currently trading above their 50-day and 200-day simple moving averages of Rs 422 and Rs 405, respectively, according to Trendlyne.
The defence electronics major reported a decent set of numbers for the December quarter. The company’s consolidated net profit rose to Rs 1,580 crore, compared with Rs 1,312 crore in the same period last year. This translates into a year-on-year (YoY) growth of 21%. Revenue from operations for the quarter rose 24% YoY to Rs 7,154 crore.
Sequentially, profit was higher than the Rs 1,287 crore reported in the September quarter. Compared with the previous quarter, revenue also rose from Rs 5,946 crore.
Including other income of Rs 139 crore, BEL’s total income for the quarter came in at Rs 7,292 crore, compared with Rs 5,957 crore in the year-ago period.
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