By Malvika Gurung
Investing.com -- One of India's biggest aluminium manufacturers Hindalco Industries (NS: HALC ) will remain under focus this week as its shares are set to turn ex-dividend for a dividend of 300% for the financial year ended March 31, 2023.
According to Investing.com's ‘Dividend Calendar’, the metal stock will begin trading ex-dividend on Monday, August 14, 2023.
The Board of Directors of the metals flagship company of the Aditya Birla Group had recommended a dividend of Rs 3 per equity share of the face value of Re 1 each for the financial year 2022-23 while releasing its audited financial earnings for the March quarter.
The corporate reward is subject to the approval of Hindalco’s shareholders at its 64th Annual General Meeting (AGM) scheduled to be held on Tuesday, August 22, 2023, through video conferencing.
The flat-rolled products player is obliged to pay the dividend to those shareholders whose names are appearing in the register of members as of the close of business hours on the record date of August 14, 2023.
The dividend, if approved at the ensuing AGM, shall be paid or dispatched to eligible shareholders of Hindalco on or after Monday, August 22, 2023.
The Register of Members and the Share Transfer Books of the mining company will be closed from Wednesday, August 16, 2023, to Tuesday, August 22, 2023, both days included, for the purpose of payment of dividend.
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