Mazagon Dock shares in focus as today is the record date for dividend payout; check details

On October 22, the company announced that its board of directors had approved splitting the company’s stock in two. Additionally, the board approved an interim dividend of ₹23.19 per share.

While the company has issued dividends in the past, this is the first time that it is participating in a stock split.

The company had declared a final dividend of ₹12.11 apiece for the financial year 2024 earlier this year.

1:2 share split

The company’s board “approved the sub-division or split of existing 1 (one) equity share of face value of ₹10/- (Rupees ten only) each fully paid up into 2 (two) equity shares of face value of ₹5/- (Rupees five only) each fully paid up, subject to shareholders' approval.”

Mazagon Dock Q1 FY25 Results

Mazagon Dock Shipbuilders reported a 121% YoY jump in its profit after tax (PAT) to ₹696 crore for the quarter ended June 2024 (Q1 FY25). The figure stood at ₹314.30 crore in the corresponding quarter of the previous fiscal.

The revenue from operations for the period came in at ₹2,357 crore against ₹2,172.76 crore in the first quarter of the previous financial year. This is an increase of 8.5% on a year-on-year basis.

"We have built a total of 802 vessels since 1960, including 28 warships, ranging from advanced destroyers to missile boats as well as 7 submarines. For both national and global clientele, we have also provided cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges, and border outposts. Jackets, wellhead platform main decks, process platforms, jack-up rigs, and other products have also been manufactured and delivered by us," the company's website says. 

On a year-to-date basis, the stock has given a 78% return.