BEL pays government Rs 262 cr interim dividend

BEL pays government Rs 262 cr interim dividend

Bengaluru: State-run Bharat Electronics Ltd (BEL) on Friday said it has paid the government Rs 262 crore interim dividend for fiscal 2017-18.

“Our Chairman M.V. Gowtama presented a cheque bearing the interim dividend amount to Defence Minister Nirmala Sitharaman in New Delhi on Thursday,” said the company in a statement here.

The city-based listed firm declared 160 per cent interim dividend or Rs 1.60 per share of Rs 10 face value to all its shareholders for this fiscal.

“This is the 14th consecutive year we have paid interim dividend. The total dividend paid to investors, including the government on its paid-up capital was 225 per cent for the previous fiscal (2016-17),” BEL said.

The Central government equity share holding declined to 69.41 per cent after it divested 5 per cent of its stake (1.11 crore shares) in February 2017 and raised Rs 1,600 crore.