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Bharat Electronics Limited (BEL), a defence Public Sector Undertaking has paid 100 per cent dividend for the year 2003-2004. The Chairman & Managing Director of BEL Shri Gopala Rao, presented a dividend cheque worth Rs 60,68,96,000 to the Defence Minister Shri Pranab Mukherjee in New Delhi today. This is the highest dividend ever paid by BEL which includes a special 20 per cent one-time dividend for the Golden Jubilee Year.
BEL was established in 1954 at Bangalore and has been consistently making profits since. Last year BEL paid 70 per cent dividend. During the year 2003-2004 BEL posted a turnover of Rs 2798.6 crore and a profit of Rs 316.1 crore after paying taxes. BEL’s target is to achieve a turnover of Rs 5000 crore by the year 2006-2007.
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