Mazgaon Dock Set for Stock Split and Dividend Announcement on Oct 30
- Mazagon Dock Shipbuilders Limited will consider a stock split and interim dividend during its board meeting on October 22, 2024.
- The company's profit after tax surged 121% year-over-year for Q1 FY25, totaling Rs 696 crore, with an 8.5% increase in operating revenue.
- Despite these positive financial indicators, the stock has experienced a significant drop from its record high earlier this year.
In India, on October 22, 2024, the board of Mazagon Dock Shipbuilders Limited is scheduled to meet to discuss a potential interim dividend and a stock split for equity shares. The company has set the record date for the dividend at October 30, 2024. Recent trading indicates a significant rise in share prices, with the stock reflecting a gain of over 9% on October 18, 2024. The latest financial results report a robust growth in profit after tax, with a year-over-year increase of 121% amounting to Rs 696 crore for Q1 FY25, compared to Rs 314.30 crore the previous year. Operating revenue also demonstrated an 8.5% growth, reaching Rs 2,357 crore. However, the shares have seen a substantial correction, decreasing 27.6% from their record high of Rs 5,859.95 per share on July 5, 2024. This mix of dividend announcements and financial results highlights the company's active approach in addressing shareholder value despite recent share price volatility.