Mazagon Dock Shipbuilders, a prominent Navratna defense PSU, has made headlines with its recent announcement of a second interim dividend of ₹3 per equity share for the financial year 2024-25. The company’s board approved this payout on April 8, and eligible shareholders can expect to receive the dividend on or before May 7, 2025. With this dividend declaration, Mazagon Dock continues to showcase its commitment to returning value to its investors.

Important Dates for Investors

Mark your calendars for April 16, the crucial record date for this interim dividend. To qualify for the ₹3 per share payout, investors must own shares by this date. Only those whose names appear in the company’s records as of this cut-off will be eligible for the dividend. If you’re considering purchasing shares, remember to do so at least two trading days in advance due to the T+1 settlement rule.

Dividend Payment Timeline

Mazagon Dock has confirmed that the dividend payment will be processed on or before May 7, 2025. This payout pertains to fully paid-up equity shares with a nominal value of ₹5 each. The company emphasized in its regulatory filing, “The payment of 2nd Interim Dividend shall be completed on or before May 07, 2025.” This marks the first dividend distribution following its 2:1 stock split in December 2024, which effectively doubled the number of shares while halving their face value.

A History of Generous Dividends

Mazagon Dock’s dividend history is impressive and speaks volumes about its financial health. Prior to the stock split, the company declared a substantial interim dividend of ₹23.19 per share in October 2024 and a ₹12.11 per share dividend in September of the same year. Looking back even further, shareholders enjoyed ₹22.20 in dividends in 2023 and ₹10.73 in 2022.

Share Performance Insights

As of Wednesday, shares of Mazagon Dock closed at ₹2,373, reflecting a modest increase of 0.61% for the day. However, it’s essential to note that the stock has faced some volatility recently, with a 9.43% decline over the past five days. On a broader scale, though, the stock has shown remarkable growth, surging 115% over the past year and recording a 7.17% increase in the last six months. Year-to-date, it has gained 5.76%.

Mazagon Dock Shipbuilders stands out not only as a key player in the defense sector but also as a Navratna company under the Ministry of Defence. Renowned for constructing warships and submarines, it is a vital component of the BSE 200 index and boasts a market capitalization exceeding ₹95,720 crore as of the latest reports.

In conclusion, Mazagon Dock’s recent dividend announcement and robust share performance underline its ongoing commitment to delivering value to its shareholders, making it a noteworthy player in the Indian stock market.