2:1 Stock Split, Rs 8/Share Dividend: PSU Defence Stock To Trade Ex-Dividend In 4 Days

Mid cap PSU defence sector stock Cochin Shipyard Ltd is set to trade ex-dividend in just 4 days now. The board of directors of Cochin Shipyard declared an interim dividend of Rs 8 per equity of Rs 10 each fully paid up (80%) for financial year 2023-24. The board of directors fixed November 20, 2023 as the record date for interim dividend. The company is yet to declare record date for stock split. It announced stock split in the ratio of 2:1 on November 7, 2023, the same day when interim dividend announcement was made. Cochin Shipyard shares gained nearly 16% after it declared stock split and record date. Check details below:

Cochin Shipyard Announces Rs 8/Share Interim Dividend: According to the regulatory filing of the company as on November 7, 2023, "Declared an interim dividend of Rs. 8.00 per equity share of Rs. 10 each fully paidup (80%) for the financial year 2023-24. Fixed Monday, November 20, 2023 as the Record Date for the aforesaid interim dividend.

Cochin Shipyard Approves Stock Split: As per the regulatory filing of the company dated November 7, 2023, "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."

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.

Cochin Shipyard Stock Performance & Return Over Years: Last trading price of Cochin Shipyard share on BSE is Rs 1110.00 per share with intraday gain of 1.08%. Its 52-week high price is Rs 1258.00 per share and 52-week low price is Rs 411.00 per share, respectively. The company has a market capitalisation of Rs 14,600.98 crore. Cochin Shipyard shares soared 37% in last 3-months, gained 100% in last 6-months, jumped 109% YTD, and offered return of 66% in last 1-year. In last 2-years, Cochin Shipyard shares rallied 199% and gained 225% in last 3-years.

Cochin Shipyard Ltd Q2 Result: The defence company for the quarter ended September announced a surge of nearly 61% in its net profit to Rs 181.5 crore as against Rs 112.79 crore declared in the corresponding period of last year. Revenue from operations for the quarter under considerations announced at Rs 1011.71 crore, up 48% as against Rs 683.18 crore reported in the same quarter of last year. Its other income jumped to Rs 87.56 crore for the quarter under consideration as compared to Rs 61.56 crore in the same quarter of last year. The company's EBITDA rose by 41.2% to Rs 191.2 crore and margin narrowed by 80 basis points to 19% from 19.8%. Growth significantly came from the ship building and repair segment that soared by 48% from last year.

About: Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry. This yard can build and repair the largest vessels in India. It can build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT. The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT, according to its official website.

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