Hindustan Aeronautics Ltd. (HAL), a government-owned aerospace and defense corporation, will trade ex-dividend today, hence the stock price was in focus on Thursday (August 24). The company’s board of directors has declared a final dividend of Rs 15 per equity share, with a face value of Rs 10 per share, for the fiscal year 2022–2023. The business has designated August 24th, 2023, as the record date for determining who is entitled to receive the 150% final dividend for the FY23.
The 60th Annual General Meeting (AGM) of HAL is slated to take place on August 31, 2023. At this AGM, the company’s shareholders will vote on a Final Dividend of Rs. 15 per fully paid up (150%) equity share of Rs. 10 apiece. In order to claim tax exemption, the company has asked its shareholders to submit the necessary paperwork to KFin Technologies Limited, the Registrar and Share Transfer Agent of the Company, by uploading it to https://ris.kfintech.com/form15/ or emailing it to einward.ris@kfintech.com by August 27, 2023.
HAL shareholders have received a dividend of Rs 50 per share over the last year, and by adding today’s payout of Rs 15, the total dividend earned over the past year would be Rs 65 per share.
HAL stock began trading ex-dividend in March 2023 in anticipation of the payment of an interim dividend to qualified shareholders of Rs 20 per share. HAL has already gone ex-dividend twice more in FY23. HAL shares went ex-dividend on November 18, 2022, for the payment of a Rs. 20 interim dividend per share, and on August 19, 2022, for the payment of a Rs. 10 dividend per share to its eligible shareholders.
HAL shares increased by roughly 2% at one stage during this morning’s early session, reaching Rs 4,082 per share.
The share price of Hindustan Aeronautics Limited (HAL) increased by as much as 2.5% on Wednesday, the day of the successful landing of the lander module of ISRO’s third lunar mission, the Chandrayaan 3, on the Moon, surpassing an earlier high of Rs 4,049.9 set on the same day.
