The board of directors of Jindal Stainless Ltd have announced a special interim dividend payment at 50 per cent, i.e., Rs 1 per equity share with a face value of Rs 2 each for FY23. This is the first dividend after a gap of 15 years and the successful merger of Jindal Stainless (Hisar) Limited (JSHL) into Jindal Stainless (JSL).
The record date for determining members’ entitlement for payment has been set as April 28, 2023. The dividend shall be paid on or before May 17, 2023, i.e. within 30 days of the approval.
The aggregate payout is Rs 82.34 crores, equal to the total number of equity shares of the company.
As per Abhyuday Jindal, Managing Director, Jindal Stainless, this special interim dividend is a token of appreciation for all its shareholders who have been a part of Jindal Stainless’ growth journey as they have successfully come out of the CDR and are in the league of one of the largest stainless steel companies in the world. This announcement is also on the side-lines of the successful completion of the merger process and the consequent listing of new shares of the merged entity.