Navratna company Mazagon Dock Shipbuilders to declare interim dividend today. Details here

Dividend stocks: Navratna public sector undertaking (PSU) Mazagon Dock Shipbuilders' shares hogged the limelight as the company's board meeting is slated for today, April 8, to consider the declaration of an interim dividend.

“Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that a meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited (the Company) is scheduled to be held on Tuesday, 08 April 2025, inter-alia, to consider declaration of 2™ interim dividend for the financial year 2024-25 to the equity shareholders of the Company,” the company said in an exchange filing on March 28.

Mazagon Dock Dividend History

If approved, this will be the second interim dividend by the PSU company. Earlier, it had declared an interim dividend of ₹23.19, for which the record date was set as October 30, 2024.

According to Trendlyne data, Mazagon Dock Shipbuilders has announced nine dividends since February 22, 2021. In the last 12 months, it has announced dividends amounting to ₹35.30 per share. At the current market price, its dividend yield stands at 1.52%.

Mazagon Dock OFS Subscription Details

The company recently concluded a two-day offer for sale (OFS), wherein the promoter of Mazagon Dock – The Government of India – was looking to offload a 2.83% stake, with an option to sell an additional 2% stake, in case of oversubscription.

With the promoter exercising the oversubscription option to the extent of up to 47,69,988 equity shares (representing 1.18% stake), the total OFS size (base size + green shoe) aggregated to 1,61,80,354 shares, representing 4.01% of the outstanding equity shares of the company. The floor price was fixed at ₹2,525 apiece.

The OFS kicked off on April 4 for non-retail investors, with their quota being fully subscribed at the end of the day. On April 7, it opened for retail investors, employees, and those non-retail investors who choose to carry forward their un-allotted bids from T-day. OFS received a subscription for 1,127 shares, with the retail portion being subscribed 0.07% of the offer size.

Mazagon Dock Share Price Trend

Mazagon Dock shares rebounded sharply in trade today, snapping a two-day losing run ahead of the board meeting to consider the interim dividend.

The PSU stock gained 5.4% to hit the day's high of ₹2,446 on the BSE today. As of 9.55 am, the scrip was trading 2.6% higher at ₹2,380 apiece.

The Navratna company has a market capitalization of nearly ₹96,000 crore.

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