A government company handed over a cheque of Rs 121 crore to the country’s Defence Minister Rajnath Singh on Tuesday. Officials of Bharat Dynamics Limited (BDL) have given a cheque of such a huge amount to the government as dividend. Earlier, government banks had handed over dividend cheques worth thousands of crores of rupees to Finance Minister Nirmala Sitharaman. This information has been shared on social media by the Defence Minister’s Office.
Dividend cheque of Rs 121 crore handed over
Bharat Dynamics Limited, a government company in the defense sector, is headquartered in Hyderabad. The company is earning a lot of money and has handed over a part of it to the government as dividend. On Tuesday, the company’s chairman and MD, Commodore A Madhavrao (Retd), handed over a cheque of Rs 121.53 crore for the financial year 2022-23 to the country’s Defense Minister Rajnath Singh.
Defence Minister Shri @rajnathsingh received an interim dividend cheque of Rs 121.53 crore for the financial year 2022-23 from Commodore A Madhavrao (Retd), Chairman & MD, Bharat Dynamics Limited in New Delhi today. pic.twitter.com/dcn5Nhu8xd
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— Raksha Mantri Office/RMO India (@DefenceMinIndia) July 30, 2024
The earnings of Bharat Dynamics company can be easily estimated by looking at the data of BDL Q4 Results released in the month of May. In this quarter, the net profit of Bharat Dynamics increased by 89.04 percent on an annual basis. The market capitalization of this PSU listed in the stock market is Rs 54150 crore. The company’s stock closed on the green mark with a rise on Tuesday. Bharat Dynamics Share closed at the level of Rs 1476.
Banks handed over cheques to the Finance Minister
Before BDL, many government banks had also handed over dividend cheques to Finance Minister Nirmala Sitharaman in the Finance Ministry in the past few days. If we mention some big banks, the country’s largest bank SBI had given a dividend of Rs 6959.29 crore on 21st June. SBI Chairman Dinesh Kumar Khara had handed over the dividend cheque to Finance Minister Nirmala Sitharaman. Bank of Maharashtra also paid a dividend of Rs 857 crore to the government on the same day. The Finance Minister has shared this information on social media and has also shared pictures of taking the cheque.
These banks also gave dividend to the government
| Name of bank | Dividend Amount |
| Canara Bank | Rs 1838.15 crore |
| Indian Bank | Rs 1193.45 crore |
| Bank of Baroda (BoB) | Rs 2514.22 crore |
| Bank Of India (BOI) | Rs 935.44 crore |
| India Exim Bank (IEB) | Rs 252 crore |
Government stake in PSUs
It is worth noting that dividend is a part of the company’s profit, which is paid to the shareholders. It can be in the form of cash, cash equivalent, shares etc. Talking about PSU, when government banks distribute dividends, due to the government’s stake in the company, the dividend money also reaches its treasury, which the government spends as per its own convenience.