Rs 12.11 Dividend: Multibagger Defence Stock Bags Order From ONGC, Sets Record Date For Dividend

Mazagon Dock Shipbuilders shares today slipped in red despite winning an order from Oil and Natural Gas Corporation Limited (ONGC). Last trading price of Mazagon Dock Shipbuilders shares on BSE is Rs 4367.60 per share with decline of 0.74% in trade today. Mazagon Dock Shipbuilders also fixed September 19, 2024 as the record date for final dividend. The company had recommended an final dividend of Rs 12.11 earlier this year on May 29, 2024. Mazagon Dock Shipbuilders shares offered 39% return in last 3-months and surged 109% in last 6-months. Check details below:

Mazagon Dock Shipbuilders Sets Record Date For Final Dividend: As per the regulatory filing of Mazagon Dock Shipbuilders issued as on September 9, 2024, "Pursuant to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Transfer of Shares of the Company will be closed for the purpose of the AGM and Dividend from 20" September 2024 to 26" September 2024 (both days inclusive) and the Company has fixed Thursday, 19" September, 2024 as the record date for determining the eligible shareholders entitled to receive the Final Dividend."

Mazagon Dock Shipbuilders Dividend: As per the BSE filing of the defence PSU, the company recommended final dividend of Rs. 12.11 per equity share in addition to the interim dividend of Rs. 15.34 per equity share paid earlier for FY 2023-24, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of its declaration at the 91st AGM of the Company.

Mazagon Dock Shipbuilders Order Win: Mazagon Dock obtained a notification for the subsea pipeline replacement project 8 group A (PRP 8 Group A), awarded on an EPC reimbursable basis at a ceiling price of Rs 1,486.40 crore. Earlier, Mazagon Dock and other defence stocks stayed in the limelight after the Union government's Defence Acquisition Council (DAC) gave nod to major procurements worth Rs 1,44,716 crore for the Armed Forces. The PSU's order book till August 14 stood at Rs 40,400 crore.

Mazagon Dock Shipbuilders Financials: Mazagon Dock Shipbuilders declared a surge of 121% YoY jump in profit after tax (PAT) to Rs 696 crore for the quarter ended June 2024 as compared to Rs 314.30 crore PAT declared in the corresponding quarter of last year. Its revenue from operations for June 2024 quarter declared at Rs 2,357 crore, up 8.5% as against Rs 2,172.76 crore in the similar quarter of last year.

Mazagon Dock Stock Performance & Return: The 52-week high price of Mazagon Dock Shipbuilders share on BSE is Rs 5859.95 per share (as on 05/07/2024) and 52-week low price is Rs 1742.00 per share (as on 26/10/2023), respectively. Its market capitalisation is Rs 88,075.00 crore. Mazagon Dock Shipbuilders shares slipped 11% in last 1-month, gained 91% so far this year, jumped 98% in last 1-year, and rallied 937% in last 2-years.

About: Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yards in India. The History of Mazagon Dock dates back to 1774, when a small dry dock was constructed in Mazagon. Over the years, MDL has earned a reputation for quality work and established a tradition of skilled and resourceful service to the shipping world in general and the Indian Navy & Coast Guard. It was incorporated as a Private Limited Company in 1934. After its takeover by the Government in 1960, Mazagon Dock grew rapidly to become the premier war-shipbuilding yard in India, producing warships for the Navy and offshore structures for the Bombay High.

Disclaimer:

The stock highlights the dividend, order win, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.