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Defence NewsBEL pays final dividend of Rs 174.44 crore to Govt

BEL pays final dividend of Rs 174.44 crore to Govt

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New Delhi: Bharat Electronics Limited (BEL), a Navratna PSU under the Ministry of Defence, has paid a total dividend of 280 percent to the government for the financial year 2019-20. The cheque for final dividend of Rs 174.44 crore has been presented to the Defence Minister Rajnath Singh on Wednesday.

BEL’s Chairman & Managing Director (CMD) MV Gowtama presented the 140 percent final dividend cheque of Rs 174,43,63,569.20/-, payable on the shares held by the President of India, to Singh, at New Delhi. The Interim Dividend of 140 percent (on face value of Re. 1 per equity share) was paid to the Government of India in February 2020. As per September 30, the government holds 51.14 percent shares in BEL.

The Backdrop

The Defence PSU in its board meeting held on January 30, had approved the interim dividend at the rate of Rs.1.40 /- per equity share of Rs.1/- each fully paid-up (140 percent) for the financial year 2019-20.

ALSO READ: BEL pays interim dividend of Rs 174 Cr to Govt

Bharat Electronics Limited (BEL)

Bharat Electronics Limited (BEL) is a Navaratna PSU and India’s foremost defence electronics company. BEL is a multi-product, multi-technology, multi-unit conglomerate which supplies over 350 products in the areas of defence products like radars, missile systems, military communications etc and non-defence products like electronic voting machines (EVMs), voter-verifiable paper audit trail (VVPAT) and solar products.

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