Hindustan Aeronautics Ltd (HAL) has announced a final dividend of ₹13 per share for the financial year 2023-24 (FY24). The company’s shares have surged in 2024 due to winning multiple government contracts. HAL has provided significant returns to investors over the past one to three years.
Last week, HAL announced that the Ministry of Defence had issued a Request for Proposal (RFP) to buy 156 Light Combat Helicopters (LCH), also known as the Prachand. This deal is worth over ₹45,000 crore and includes 90 helicopters for the Indian Army and 66 for the Indian Air Force.
HAL Dividend Payout
HAL’s board has proposed a final dividend of ₹13 per share, which is a 260% payout for FY24. This dividend will be paid to eligible shareholders within 30 days after approval at the annual general meeting (AGM). The record date to determine who is eligible for the dividend is set for Wednesday, August 21, 2024.
Earlier in the year, HAL had already paid an interim dividend of ₹22 per share for FY24, which was the highest in the last two years. The highest dividend HAL has ever paid was ₹33.25 in March 2020.
HAL Share Capital
HAL’s board also recommended increasing the company’s authorized share capital from ₹600 crore to ₹700 crore. This change will require an update to the company’s Memorandum of Association and will be voted on at the AGM.
These decisions were made according to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and will be presented for shareholder approval at the upcoming AGM.
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