Defense PSU stock to consider final dividend for FY22 next week

Government Aerospace and Defense Company Hindustan Aeronautics Limited (HAL) has informed that its Board of Directors will meet next week on Tuesday June 28, 2022 to consider and recommend the final dividend for FY22. HAL shares will were trading up more than 3% in early trades Tuesday at 1,777 each on BSE.

“The purpose of this letter is to inform that a meeting of the Board of Directors of the Company will be held on Tuesday, June 28, 2022, to consider, among other things, the recommendation of the balance of the dividend for the financial year 2021-22,” HAL announced in an exchange repository today.

The Company has further informed that trading in the Company’s securities will remain closed to all insiders, including named persons, related persons and their relatives, for the above purposes and for the reporting of financial results, from today until 48 hours after the declaration of the financial results. results for the quarter ending June 30, 2022.

Hindustan Aeronautics (HAL) is a national supplier of aircraft, helicopters, engines, avionics and other accessories. As of March 31, 2022, the Indian government held 75.15% of the company’s capital. Defense PSU stock has jumped more than 44% in 2022 (YTD) so far, compared to a drop of around 12% in the benchmark Sensex. HAL shares are up more than 76% in a year.

The company reported a 90% year-over-year (YoY) increase in consolidated net profit to 3,105 crores for the quarter ending March 2022, compared to 1,628 crores in the same quarter last year. Its operating revenue increased by 6% to 11,561 crores of 10,867 crore per year.

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