HAL Hits All-Time High, Surges 150% Ex-Dividend, Shattering Records

Aeronautics firm HIAE (NS:HIAE) reached a new peak of Rs 4,135 per share on Thursday morning, marking the second consecutive day of such achievement, coinciding with the stock’s ex-dividend status.

The state-owned company has become ex-dividend, entitling shareholders to a 150% dividend for the fiscal year ending March 31, 2023.

The Navaratna PSU’s Board of Directors proposed a final dividend of Rs 15 for every fully paid-up equity share of Rs 10, corresponding to a 150% dividend for the fiscal year 2022-23.

This dividend is contingent upon the approval of the aerospace corporation’s shareholders at its 60th Annual General Meeting (AGM), slated for August 31, 2023. The AGM will be conducted via video conferencing.

To determine which shareholders are eligible for the final dividend, the company has set August 24, 2023, as the record date. If sanctioned at the upcoming AGM, eligible shareholders can expect to receive the dividend within 30 days of approval.

For AGM purposes, HAL will close its Register of Members and Share Transfer Books from August 25 to August 31, 2023.

HAL holds a prominent global position as one of the most seasoned and largest manufacturers in the aerospace and defense sectors.

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