Government Receives Rs 224 Crore and Rs 123 Crore in Dividend Tranches from BEL and HUDCO
The Indian government has recently received INR 224 crore and INR 123 crore in dividend tranches from Bharat Electronics (BEL) and Housing and Urban Development Corporation (HUDCO), respectively. The announcement was made by the Secretary of the Department of Investment and Public Asset Management (DIPAM) via Twitter.
A dividend is a portion of a company’s earnings that is distributed to shareholders as a reward for their investment. While it is not mandatory for companies to provide dividends, it is a common practice.
In addition to the recent dividend tranches from BEL and HUDCO, the government also received INR 1,355 crore from GAIL (India) Limited as a dividend tranche on Tuesday.
These dividends are expected to provide a boost to the government’s finances, and may also encourage more investment in these companies by shareholders.
Bharat Electronics was established in 1954 in association with CSF, France (now, Thales), to meet the specialized electronic equipment requirements of the Indian Defence Services.
Bharat Electronics is an Indian state-owned aerospace and defence company with about nine factories, and several regional offices in India.
The Housing and Urban Development Corporation Limited (HUDCO) is a public sector undertaking in India that specializes in providing finance for housing and infrastructure projects.
For More Latest News Click Here