Shares of Bharat Dynamics surged 3% after the board approved a stock split in a 1:2 ratio and an interim dividend of ₹8.85 per share.
The company declared that its board had authorized breaking one current stock with a par value of Rs 10 to two equity shares of Rs 5 face value. According to a stock exchange filing, an announcement concerning the record date for the stock split was set to be made post advancements with shareholders on the stock split approval by a post-ballot e-voting form.
The statement went on to say that post-ballot notice and e-voting guidance would be sent via email to shareholders as of the cutoff date of March 22, 2024.
The defence firm also announced that its board approved an interim dividend of Rs 8.85 per equity share. April 2 has been set as the record date for the interim dividend, and payment will be completed on or before April 18, 2024.
As of 10:30 am, the shares were trading 2.05% higher at ₹1,696.00.
