By Malvika Gurung
Investing.com — The state-owned aerospace and defence stock Hindustan Aeronautics (NS:) will be under focus in the new week, as its shares will turn ex-dividend for an interim dividend of 200%.
The Board of Directors of Navaratna PSU declared a second interim dividend of Rs 20/share of Rs 10 apiece fully paid up, translating to a 200% dividend for the financial year 2022-23.
The company’s Board had set the record date for determining shareholders eligible for the said interim dividend as Monday, March 20, 2023.
HAL is among the oldest and largest aerospace and defence manufacturers in the world. The central PSU stock has rallied a whopping 95% in the past one year.
The defence company has been bagging a number of contracts from the Indian government recently, with the most recent one reported on Friday, March 17, 2023.
The Defence Acquisition Council (DAC) approved proposals worth Rs 70,500 Crore for the Armed Forces & Indian Coast Guard under the Buy lndian-IDDM (Indigenously Designed, Developed and Manufactured) category in the presence of Raksha Mantri Rajnath Singh.
HAL has been awarded a contract for the procurement of Advance Light Helicopters (ALH) MK-III for the government agency Indian Coast Guard (ICG).
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