iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Jindal Stainless announces Re 1 / share interim dividend for FY 23

20 Apr 2023 , 10:51 AM

Abhyuday Jindal has been reappointed as the company’s managing director, and Jindal Stainless Ltd (JSL) said on Wednesday that its board has also approved an interim dividend of Rs 1 for the years 2022–2023. 

Upon the successful conclusion of the merger process and the subsequent listing of new shares of the merged firm, JSL stated in a regulatory filing that a special interim dividend of Rs1 per equity share (face value of Rs 2 per equity share) will be paid for the fiscal year (FY) 23.

The record date for determining members’ eligibility for the payment of the special interim dividend, which will be finished by May 17, 2023, has been set by the board at April 26, 2023, it was announced.

At its meeting on Wednesday, the board also gave its approval for Abhyuday Jindal to be reappointed as MD for a period of five years beginning on May 1, 2023.

This is the first dividend following the merger of Jindal Stainless (Hisar) Limited (JSHL) and Jindal Stainless (JSL), the firm said in a separate statement. The total compensation, which equals the whole number of equity shares in the company, is Rs 82.34 crore.

According to Jindal, ‘This dividend is a token of appreciation for all our shareholders who have been a part of Jindal Stainless’ growth journey as we have successfully come out of the CDR (Corporate Debt Restructuring (CDR) framework) and are in the league of one of the largest stainless steel companies in the world.’

The two companies will merge on March 2, 2023. The combined company’s total melting capacity is close to 3 MTPA (million tonnes per annum).

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • dividend
  • Jindal Stainless
  • MD
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.