The Navratna defence PSU, Mazagon Dock Shipbuilders, which recently underwent a stock split, has declared a second interim dividend of Rs 3 per equity share for FY25. The company’s board gave its nod to this payout on April 8, and the dividend will reach eligible shareholders on or before May 7, 2025.
“Declaration of 2nd Interim Dividend of Rs. 3/- per equity share of Rs. 5/- each fully paid-up for the Financial Year 2024-25,” said the company in an exchange filing on April 8.
But there is a key date investors must watch, April 16. That is the record date, the cut-off to be eligible for this dividend.
Here are the three key things you should know-
1. Mazagon Dock Dividend: April 16 is the record date
To receive the Rs 3 dividend, investors need to make sure they own shares before April 16. Only shareholders whose names appear in the company’s records as of Wednesday, April 16, will be eligible. So if you plan to buy the stock, make sure to do so at least two trading days in advance due to T+1 settlement.
2. Mazagon Dock Dividend: Will the dividend be paid soon?
Mazagon Dock in the regulatory filing said that the dividend payout will be completed on or before May 7, 2025. The Rs 3 per share dividend is for fully paid-up equity shares with a face value of Rs 5 each.
“The payment of 2nd Interim Dividend shall be completed on or before 07 May 2025,” noted the company in the exchange filing.
This is the company’s first dividend post its stock split in December 2024, when shares were split in a 2:1 ratio, doubling the number of shares while halving their face value.
3. Mazagon Dock Dividend track record
This is not a one-off reward. In October 2024, just before the stock split, the company had declared a hefty interim dividend of Rs 23.19 per share. A month prior, in September, it had paid another dividend of Rs 12.11 per share.
Going back further, shareholders received Rs 22.20 in 2023 and Rs 10.73 in 2022.
Mazagon Dock share performance
Shares of Mazagon Dock ended Wednesday at Rs 2,373 apiece, up 0.61% for the day. While the shipbuilder’s stock showed resilience mid-week, it’s been a rocky few days with a 5-day dip of 9.43%.
Zoom out, though, and the story gets more exciting. Mazagon Dock share price has surged 115% over the past year and gained 7.17% in the last six months. Even on a year-to-date basis, it managed a 5.76% rise.
Mazagon Dock Shipbuilders is not just any PSU, it is a Navratna company under the Ministry of Defence, known for building warships and submarines. It is also part of the BSE 200 index, and commands a market capitalisation of over Rs 95,720 crore as of the latest.