Hindustan Aeronautics Limited Hits All-Time High, Stock Turns Ex-Dividend

New Delhi:

Shares of state-owned Hindustan Aeronautics Ltd (HAL) hit recent lifetime highs because the inventory turned ex-dividend on Thursday.

An ex-dividend date is the day on which a inventory begins buying and selling with out the good thing about the subsequent scheduled dividend cost.

The HAL inventory gained as a lot as 2.7 per cent in commerce on Thursday to hit a brand new all-time excessive of Rs 4,138.80 per share within the morning session on BSE. Nonetheless, it quickly erased all its positive aspects to commerce within the unfavourable at Rs 3,989, down 1 per cent, by 11:25 AM.

A spurt in buying and selling quantity was additionally seen, with the variety of shares altering arms on BSE leaping 1.2 instances the day by day common in the course of the morning session itself.

To recall, the board of administrators of the corporate had declared a last dividend of Rs 15 per fairness share of Rs 10 every absolutely paid up (150 per cent) for the monetary yr 2022-23.

The document date for the cost of the ultimate dividend, if authorised by the shareholders within the firm’s annual common assembly (AGM), was set as August 24, 2023. The dividend shall be paid to the shareholders inside 30 days from the date of its approval.

The sixtieth AGM of the corporate can be held on August 31, 2023, at 1500 Hours by means of video conferencing (VC) or different audio-visual means (OAVM).

Earlier in March 2023, HAL had paid an interim dividend of Rs 20 per share to the eligible shareholders for fiscal 2022-23. Earlier than that, in calendar yr 2022, the corporate had paid dividends thrice to its shareholders — Rs 20 per share in November, Rs 10 per share in August and Rs 26 per share in February.

The corporate had recorded 31 per cent development in its consolidated internet revenue at Rs 814 crore for the primary quarter ended June 2023 (Q1 FY24) in contrast with Rs 620 crore within the year-ago interval. Income from operation