In the spotlight today are the stocks of Hindustan Aeronautics Ltd (HAL), which are trading ex-bonus as a noteworthy dividend-paying stock. The company’s board has announced a final dividend of ₹15 per equity share for the fiscal year 2022-23. The record date, determining eligible shareholders for the 150% final dividend payment for FY23, has been set for August 24, 2023. In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, HAL has officially informed the Indian stock market about this upcoming record date.
HAL’s announcement regarding the final dividend elaborates that, following a recent board meeting, a recommendation of ₹15/- per equity share of ₹10/- each (fully paid up) for the fiscal year 2022-23 has been made. This dividend is scheduled to be disbursed to shareholders within 30 days of its approval. The company will subsequently provide comprehensive details, including the record date, to the relevant Stock Exchanges in due course.
Reviewing HAL’s dividend history available on the BSE website, this particular dividend payment marks the second of its kind by the company. Of note, in March 2023, HAL shares traded ex-dividend for an interim dividend of ₹20 per share meant for eligible shareholders. This follows two prior ex-dividend instances in FY23. Specifically, on November 18, 2022, HAL stocks traded ex-dividend for a ₹20 per share interim dividend, and on August 19, 2022, HAL shares traded ex-dividend for a ₹10 per share dividend. Consequently, HAL shareholders have received a cumulative ₹50 per share in dividends over the past year. With the inclusion of today’s ₹15 dividend, the total dividend accrued over the last year sums up to ₹65 per share.