HAL board approves dividend of Rs 13/share for FY4

economictimes.indiatimes.com:

The company has proposed August 21 as the record date for the dividend payment. However, this is subject to the shareholders’ approval.

“Final dividend of Rs 13 per equity share of Rs 5/- each fully paid up (260%) for the Financial Year 2023-24, which shall be paid to the eligible shareholders within 30 days from the date of its approval in AGM. Record Date for the payment of final dividend for the financial Year 2023-24, if approved by the shareholders in the ensuing AGM, will be Wednesday, the 21st August 2024,” said the company in its filing to the stock exchanges.

Additionally, HAL has also increased its authorised share capital from Rs 600 crore to Rs 700 crore with the alteration of the capital clause of the Memorandum of Association (MoA) of the company on account of the same.

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The defence stock has been having a dream rally in recent times. It has given multibagger returns of 188% in the last year to its investors. In the last 6 months, the shares of HAL have increased by 88.5%, while gaining 61% in the last 3 months.

Technically, the stock is well placed above all its significant exponential moving averages and oscillating at a middle range on the RSI near the 63 level, as per Trendlyne data.

Shares of HAL were trading nearly 1% lower at Rs 5,319.70 around 2 pm on BSE.

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