Mazagon Dock Shipbuilders shares jumped more than 2% after the company announced major decisions following its Board of Directors meeting, including the declaration of an interim dividend and the approval of a stock split.
Stock Split Details
The board approved the sub-division (split) of equity shares. Each equity share with a face value of ₹10 will be split into two shares of ₹5 each, subject to shareholder approval.
The aim of the stock split is to encourage more participation by small investors while also increasing the liquidity of the shares in the market.
Dividend Details
The board announced an interim dividend of ₹23.19 per equity share of ₹10 fully paid up for fiscal year 2024-25. The company has set Wednesday, October 30 as the record date for the payment of the interim dividend.
As of 11:13 am, Mazagon Dock shares were trading 1.78% higher at Rs 4,232.30 on the NSE.
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