Hindustan Copper to give 23.2% dividend for FY22; stock surges ~4%

29 Sep 2022 , 01:44 PM

Hindustan Copper Limited announced that the shareholders approved a 23.20% dividend for the fiscal year ended March 31, 2022.

Following this development, Hindustan Copper’s counter was trading 1.49% higher at Rs102.15, against the previous close of Rs100.65 on NSE. So far, the counter hit an intraday high of Rs104.35, up by 3.67%.

The shareholders authorised the distribution of dividends as suggested by the board of directors at the company’s 55th annual general meeting (AGM) yesterday, according to an exchange filing. The dividend, which amounts to 23.20% of the company’s paid-up capital, will be paid on October 26.

In a meeting held on May 28, Hindustan Copper’s board of directors proposed a dividend payment of Rs1.16 per share of the face value of Rs5 each for approval by shareholders at the AGM.

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