New Delhi: Bharat Dynamics Limited (BDL), a Hyderabad-based Miniratna Defence Public Sector Undertaking (DPSU), has declared an interim dividend of Rs 6.25 per share of Rs 10/- each for the current financial year (FY2019-20). The interim dividend declared by the company works out to be 62.5 percent of the paid-up share capital of Rs 183.28 crore, the company said in a statement on Thursday.
BDL's Chairman & Managing Director (CMD) Commodore Siddharth Mishra (Retd) presented a cheque for Rs 100.518 crore to the government as dividend in keeping with its shareholding in BDL. The cheque was handed over to Union Defence Minister Rajnath Singh in New Delhi.
On the occasion, the Ministry of Defence's Secretary (Defence Production) Raj Kumar and Joint Secretary (P&C) Dr Amit Sahai and BDL's Director (Finance) S Piramanayagam were present.
Bharat Dynamics Limited (BDL) is one of India's manufacturers of ammunitions and missile systems. The company was founded in 1970 in Hyderabad. It was established as a manufacturing base for guided weapon systems. It began with a pool of engineers drawn from Ordnance Factories, DRDO and aerospace industries, BDL began by producing a first-generation anti-tank guided missile-the "French SS11B1." This product was a culmination of a licence agreement the government entered into with Aerospatiale. BDL has three manufacturing units located at Kanchanbagh, Hyderabad, Telangana, Bhanur, Medak district, Telangana and Visakhapatnam, Andhra Pradesh.