Mazagon Dock announces 1:2 stock split, interim dividend of Rs 23.19 per share

Mazagon Dock announces 1:2 stock split, interim dividend of Rs 23.19 per share

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26 Aug, 2025 12:21

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Mazagon Dock Shipbuilders board has approved a stock split in the ratio 1:2 at their meeting held today, 22nd October 2024. The current face value of each stock of the state-run defence company is Rs 10. After the stock split, the new face value of each stock of the company will be Rs 5. This is the first stock split in the history of the state-owned company.

The record date for the purpose of sub-division of equity shares will be decided after obtaining approval from the shareholders, the company said in an exchange filing.

The board of directors also declared an interim dividend of Rs 23.19 per equity share of Rs 10 each for the shareholders. The company has also fixed Wednesday, 30th October 2024 as record date for the purpose of payment of interim dividend on equity shares for the financial year 2024-25.

"The payment of interim dividend will be completed on or before 20 November 2024," it added.

Mazagon Dock Shipbuilders stock settled at Rs 4,206 per share on the NSE, down 9.87 percent in trade today. It has fallen after two days of consecutive gain. The counter touched an intraday low of Rs 4,116 per share on the NSE, declining 11.8 percent from its previous close.

The government of India holds 84.83 percent stake in the state-run Mazagon Dock as of September 2024 quarter. Mazagon Dock Shipbuilders raised Rs 443 crore through its public issue during September 29-October 1. The share were listed at Rs 216.25 delivering investors return of Rs 71.25 compared to IPO price band of Rs 135 to Rs 145 per share.

The company is engaged in the construction and repair of warships and submarines for the Ministry of Defence.

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