Bharat Electronics pays government 200% total dividend

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IANS | 16 Nov, 2018
Bharat Electronics Ltd (BEL) paid Rs 324 crore as 200 per cent total dividend for fiscal 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 490.58-crore total dividend, which is equivalent to 200 per cent, we paid the government Rs 324 crore for holding 66 per cent equity stake in the company on proportionate basis," BEL Company Secretary S. Srinivas told IANS here.

The company paid Rs 64.42 crore on Thursday to the government as final dividend, equivalent to 40 per cent in proportionate to its equity share of Re 1 face value after paying Rs 259.58 crore as an interim dividend, equivalent to 160 per cent in February.

"The final dividend pay-out of 40 per cent to all shareholders, including the government, institutions, retail and our employees is Rs 97.46 crore and the interim dividend of 160 per cent was Rs 393.12 crore," added Srinivas.

BEL Chairman & Managing Director M.V. Gowtama presented a cheque for Rs. 64.42 crore as final dividend to Defence Minister Niramala 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.