Bharat Electronics gets board nod for stock split; to pay interim dividend of Rs 3 per equity share

Bharat Electronics announced on Friday that the company's board approved its stock split and to pay interim dividend of Rs 3 per equity share to shareholders .

"Pursuant to Regulation 30 (2) of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the company at their meeting held on 27th January 2017," cited the company in a filing to the BSE.

Bharat Electronics is an Indian state-owned aerospace and defence company.

The board has approved to pay interim dividend of Rs 3 per equity share to the shareholders  for the financial year 2016-17, it said. 

"Sub-division of existing one equity share of Rs 10 each face value fully paid-up into 10 number of equity shares of Rs 1 each face value, subject to approval of the shareholders and with effect a record date fixed by the Board/Committee in this regard," it said in a filing.

On Friday, the stock of Bharat Electronics closed up 1.74% or Rs 26.30 at Rs 1,540.35 on the BSE.