Shares of Bharat Electronics Limited (BEL) will be under the spotlight today, August 14, 2024, as the company’s dividend declaration for the financial year 2023-24 takes effect. The state-run Navratna PSU under the Ministry of Defence, Government of India, has announced an 80% dividend payment for its shareholders, marking a significant event in the stock market.
Bharat Electronics Dividend 2024: Amount and Details
For the fiscal year 2023-24, Bharat Electronics has declared a final dividend of ₹0.80 per equity share, which corresponds to 80% of the face value of ₹1 per share. This decision was confirmed in an official exchange filing by the company. The dividend payment is a reward to the shareholders, derived from the company’s earnings, and is typically disbursed in cash.
The specifics of the dividend declaration are as follows:
- Dividend Amount: ₹0.80 per equity share
- Face Value: ₹1 per share
- Dividend Percentage: 80%
Ex-Date and Record Date
Today, August 14, 2024, marks the ex-date for the final dividend. This means that anyone purchasing BEL shares today or later will not be entitled to receive the dividend payment. To qualify for the dividend, investors must have held the shares before today’s ex-date.
The record date for this dividend is also set for August 14, 2024. This date is crucial for determining which shareholders are eligible to receive the dividend. Additionally, Bharat Electronics will observe a book closure period from August 16 to August 18, 2024, during which the company will finalize its list of eligible shareholders.
Payment Date
As of now, BEL has not announced the payment date for the final dividend of FY24. Shareholders can expect this information to be released by the company in due course.
Share Price Performance
Bharat Electronics Limited is a notable component of the BSE 100 index. Recent performance analytics from the Bombay Stock Exchange (BSE) reveal a strong upward trajectory in the company’s share price. As of August 13, 2024:
- 3-Month Return: 33.84%
- 6-Month Return: 70.47%
- Year-to-Date (YTD) Return: 62.55%
- 1-Year Return: 127.88%
- 2-Year Return: 210.52%
- 3-Year Return: 417.82%
- 5-Year Return: 858.27%
- 10-Year Return: 1613.96%
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The impressive returns highlight the robust performance and growth of BEL shares over various time frames.
Dividend History and Yield
In the current financial year, Bharat Electronics has distributed dividends twice—₹0.70 each in February and March 2024. Last year, the company declared dividends of ₹0.60 each in March and August.
At the current market price, the dividend yield for Bharat Electronics Limited stands at 0.73%. This yield represents the annual dividend income as a percentage of the share price, providing investors with an indication of the return on their investment in terms of dividends.
The ex-date of August 14, 2024, marks an important day for shareholders of Bharat Electronics Limited, as it signifies the final opportunity to be eligible for the announced dividend. With a strong history of dividends and substantial returns on shares, BEL continues to be a significant player in the Indian stock market. As always, investors are advised to stay informed and consult financial advisors to make well-informed decisions regarding their investments.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. ET NOW DIGITAL encourages readers to consult with financial advisors before making any investment decisions.
