21 March 2024 — Bharat Dynamics Ltd, a leading defence firm in India, has made significant announcements regarding its stock structure, dividend distribution, and executive leadership.
About Bharat Dynamics:
Founded in [year], Bharat Dynamics has emerged as a prominent player in the defence sector, specializing in the development and production of missile systems and other defence technologies.
Key Announcements:
- Stock Split: The company’s board has approved a 1:2 stock split, converting one existing stock of face value Rs 10 into two equity shares of face value Rs 5 each. The record date for the stock split will be finalized post shareholder approval through electronic voting.
- Interim Dividend: Bharat Dynamics board has sanctioned an interim dividend of Rs 8.85 per equity share. The record date for the dividend is April 2, with payments scheduled on or before April 18, 2024.
- CFO Appointment: G Gayatri Prasad has been appointed as the new Chief Financial Officer (CFO) of Bharat Dynamics. Prasad, currently serving as the general manager (finance), brings a wealth of experience and expertise to the role.
Impact and Conclusion:
These strategic moves by Bharat Dynamics, including the stock split to enhance shareholder value and the interim dividend to reward investors, reflect the company’s commitment to financial transparency and growth. Additionally, the appointment of G Gayatri Prasad as CFO signifies a focus on strong financial management and strategic planning moving forward.
