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Dividend Stocks: Mazagon Dock Shipbuilders Ltd is also one of the defense stocks that has stirred up the stock market over the past one year. On Thursday, the company’s share price saw an increase of about 10 percent. There are two major reasons behind the rise in shares of Mazagon Dock Shipbuilders Ltd. The first reason is the agreement with America and the second reason is the dividend and record announcement.
What is a contract?
According to information provided to stock markets by Mazagon Dock Shipbuilders Ltd, the company has entered into a Master Ship Repair Agreement (MSRA) with the US government. This is a non-monetary agreement. So far there are only two shipyards in India that have lit up (MSRA). Of which Mazagon Dock Shipbuilders Ltd is one.
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Record date before 21st September
Mazagon Dock Shipbuilders Ltd has offered its eligible investors Rs. It has decided to pay a final dividend of 6.86. The company has declared 20 September 2023 as the record date for the dividend. Let us tell you that on the same day the company will also trade ex-dividend in the stock market.
Shares are roaring in the stock market
Shares of Mazagon Dock Shipbuilders Ltd on Thursday traded at Rs. It closed at 2087.75 with a gain of 9.59 percent. The share price of the company has seen an increase of over 14 percent in the last one month. At the same time, the shares of investors who bought and held the stock for 6 months have already doubled in value.