1% Dividend Yield, 70% Payout: Defense Stock Bharat Electronics Recommended To Buy For Rs 210 TP

One of the leading aerospace and defence companies, Bharat Electronics (BEL) will be turning ex-dividend next week. BEL which has one of the highest dividend yields in defence segment, will be rewarding shareholders with a 70% payout anytime soon.

Ahead of the ex-dividend date, brokerages have recommended holding, accumulate and buying BEL shares. The highest target price on BEL is of Rs 210 per share.

Bharat Electronics Share Price:

Last week, on Friday, BEL shares ended at Rs 184.50 apiece, up by 0.60%. The company has a market cap of Rs 1,34,865.42 crore.

At present, BEL shares are up by 109% from its 52-week low of Rs 88.30 apiece.

Bharat Electronics Dividend:

As per the regulatory filing, the company has declared an interim dividend of Rs 0.70/- per equity share of Rs 1 each fully paid-up (70%) for the financial year 2023-24. The interim dividend will be paid within 30 days from the date of declaration.

Further, BEL fixed Saturday, the 10th of February, 2024 as Record Date for the purpose of payment of Interim Dividend on Equity Shares for the Financial Year 2023-24. Since February 10 is a Saturday, the share price will turn ex-dividend on February 9.

Currently, BEL shares have a dividend yield of 0.98%, which is among the highest in the defence segment. In 2023, the company paid dividends up to 180% amounting to Rs 1.8 per share.