Cochin Shipyard stock split, Cochin Shipyard dividend news: State-run shipbuilder Cochin Shipyard’s board on Tuesday gave nod to a proposal to split its stock in the ratio of 2:1 and cleared a dividend of Rs 8 per share.Jaipur Stock

Here’s all you need to know about the announcements:

The shipbuilding and allied services company approved the sub-division or split of existing one equity share of face value of Rs 10 each fully paid up into two equity shares of face value of Rs 5 each fully paid up, subject to shareholders’ approval, according to a regulatory filing during market hours on Tuesday.

"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," it added.

The company’s latest dividend translates into an 80 per cent payout given the face value of Rs 10 per share. This is an interim dividend for the financial year 2023-24.Surat Wealth Management

Cochin Shipyard has fixed Monday, November 20, as the record date for the interim dividend.

The company will pay the dividend to eligible shareholders on or before December 6. The board also approved the company’s financial results for the July-September period.

The company reported a 60.9 per cent year-on-year rise in consolidated profit to Rs 181.5 crore for the September quarterKanpur Stock. Its revenue grew 47.7 per cent to Rs 1,100.4 crore for the quarter under review. Read moreBangalore Investment

The Cochin Shipyard stock (COCHINSHIP ) closed with a gain of Rs 37.1, or 3.7 per cent, to RS 1,042 apiece on BSE after Tuesday’s announcements.

With inputs from PTI