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BEL pays interim dividend of Rs 174 Cr to Govt

Navratna Defence PSU Bharat Electronics Limited (BEL) has paid an interim dividend of 174.43 crore to the government for the current financial year
New Delhi: Bharat Electronics Limited (BEL), a Navratna PSU under the Ministry of Defence, has paid an interim dividend of 174.43 crore to the government for the current financial year (FY2019-20) on Thursday. A dividend cheque of Rs 174,43,63,569.20/- (payable on the shares held by the President) was presented to the Union Defence Minister Rajnath Singh by BEL's Chairman & Managing Director (CMD) MV Gowtama, at New Delhi. On the occasion, Ministry of Defence's Secretary (Defence Production) Raj Kumar, Joint Secretary (P&C) Dr Amit Sahai and other officials from BEL were also present. This is the 16th consecutive year that BEL is paying an interim dividend. BEL has paid a total dividend of 340 percent on its paid-up capital for the financial year 2018-19. As per December 31, 2019, the government holds 55.27 percent shares in BEL.
This is the 16th consecutive year that BEL is paying an interim dividend. BEL has paid a total dividend of 340 percent on its paid-up capital for the financial year 2018-19

The Backdrop

The Defence PSU in its board meeting held on Januaury 30, had approved the interim dividend at the rate of Rs.1.40 /- per equity share of Rs.1/- each fully paid-up (140 percent) for the financial year 2019-20. The information was shared by BEL during regulatory filing on the same day.

Bharat Electronics Limited (BEL)

Bharat Electronics Limited (BEL) is a Navaratna PSU and India’s foremost defence electronics company. BEL is a multi-product, multi-technology, multi-unit conglomerate which supplies over 350 products in the areas of defence products like radars, missile systems, military communications etc and non-defence products like electronic voting machines (EVMs), voter-verifiable paper audit trail (VVPAT) and solar products.