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Board of this Maharatna company fixes record date for final dividend

27 Aug , 2022   By : Kanchan Joshi


Board of this Maharatna company fixes record date for final dividend

With a market valuation of ?20,143.74 Cr, Bharat Heavy Electricals Ltd (BHEL) is a large cap company in the engineering industry. The company holds a Maharatna CPSEs status from the Department of Public Enterprises the company is currently involved in the engineering and manufacturing of a number of core sectors, including power generation and transmission, transportation, renewables, water, oil & gas, and defence & aerospace.


Today the company said today in a regulatory filing that “In continuation to our communication dated 21.05.2022 and pursuant to Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, it is hereby informed that the Company has fixed Friday, 16th September, 2022 as the {(Record Date" for the purpose of determining the eligibility of the members to receive final dividend of Rs. 0.40 per share (i.e. @ 20% on the paid up equity share capital) for the year 2021-22. The dividend, if approved by the members at the ensuing 58th Annual General Meeting (to be held on 29th September, 2022), will be paid within 30 days from the date of declaration of dividend i.e. on or before October 28, 2022."


Today, BHEL and Rail Vikas Nigam Ltd (RVNL) also inked a memorandum of understanding (MoU) to collaborate on infrastructure and project execution in India and internationally. This will open the door for cooperation with the Indian government's "Atmanirbhar Bharat Abhiyan" in both the current and future areas of operation.


The shares of Bharat Heavy Electricals Ltd closed today at ?58.00 apiece, up by 0.96% from the previous close of ?57.45 per share. In the last 1 year, the stock has surged 7.01% but on a YTD basis, the stock has fallen 4.45% so far in 2022. On the NSE, the stock had touched a 52-week-high of ?80.35 on (13-October-2021) and a 52-week-low of ?41.40 on (20-June-2022) indicating that at the current price level, the stock is trading 27.81?low the high or discount from the 52-week-high and 40.09 above the low.


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