Sunday, June 26, 2022

MDL pays Govt an interim dividend of Rs 92.56 crore for FY 2020-21

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New Delhi: Mazagon Dock Shipbuilders Limited (MDL) has paid an interim dividend of Rs 92.56 crore for the current financial year (FY 2020-21) on Wednesday. Union Defence Minister Rajnath Singh has received an interim dividend cheque of Rs 92.56 crore from the Defence PSU in New Delhi. MDL’s Chairman & Managing Director (CMD) Vice Admiral Narayan Prasad (Retd.) handed over the cheque to the Minister in the presence of Secretary (Defence Production) Raj Kumar (IAS).

With this, MDL has paid a total dividend of Rs 138.73 crore to the government during FY 2020-21 including the final dividend of Rs 46.17 crore for FY 2019-20. The company has declared an interim dividend of Rs 109.11 crore at 54.10 per cent of equity capital for FY 2020-21, government share is 84.83 percent.

ALSO READ: MDL delivers 3rd Scorpene Class submarine Karanj to Indian Navy

The CMD also briefed Defence Minister Singh about the delivery of the 3rd Scorpene Submarine Karanj, due for commissioning on March 10 and commencement of sea trials of the first ship Visakhapatnam of Project P-15B which is due for delivery later this year.

Mazagon Dock Shipbuilders Limited (MDL)

Mazagon Dock Shipbuilders Limited (MDL), aptly called “Ship Builder to the Nation”, is one of India’s leading Defence PSU shipyard under the Ministry of Defence. The main activities of the company are the construction of warships and submarines with facilities situated at Mumbai and Nhava (under development). It has the capability to build warships, submarines, merchant ships up to 40,000 DWT (Ac to the MDL's website) since 1979. For outfitting work, the company has a large number of workshops with sophisticated equipment and machines specific to hull fabrication and ship construction work.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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