BEML Limited a premier public sector company under the Ministry of Defense has declared a dividend of 120% for the second year in succession.

Mr VRS Natarajan CMD of BEML presented a cheque of INR 27 crores to the Defense Minister towards dividend for the financial year 2008 - 09 against 54.03% of company’s shares held by the Government. Last year also BEML paid an equal amount of dividend.

BEML is set to reach sales target of INR 3500 crores for the current financial year and the pending order book position is expected to cross INR 6000 crores by March 2010 for execution during 2010-11 and beyond.