Mazagon Dock announces stock split, interim dividend but stock falls  

Mazagon Dock stock split, interim dividend: The board of Mazagon Dock Shipbuilders Ltd on Tuesday approved its first ever stock split in the ratio of 1:2. The board also declared an interim dividend of Rs 23.19 per equity share of Rs 10 each fully paid-up for the financial year 2024-25. The company has already fixed Wednesday, 30 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 November 20, 2024.

However, the multibagger stock slipped 12% to Rs 4118.35 on BSE against the previous close of Rs 4665.65. Market cap of the firm fell to Rs 84,750 crore.

"Approved the sub-division/ split of existing 1 (One) Equity Share of face value of Rs.10/-(Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/-(Rupees Five Only) each fully paid up, subject to shareholders' approval (Details enclosed at Encl 1). The record date for the purpose of above sub-division/ split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders through postal ballot electronic voting process and will be intimated in due course," said Mazagon Dock.