JSL dividend: Jindal Stainless board announces 50% dividend payout — check out record date, payment date

JSL dividend 2023: Jindal Stainless’s board announced a 50 per cent special interim dividend to its shareholders on Tuesday, April 18. The company declared a dividend of Re 1 per equity share for a face value of Rs 2 for the current fiscal.

Jindal Stainless’s regulatory filing said, “Payment of Special Interim dividend@ 50% i.e. Re. 1 per equity share (face value of Rs. 2 per equity share) for the financial year 2022-23 upon successful completion of the merger process and consequent listing of new shares of the merged entity.”

JSL dividend 2023 record date

The company has fixed April 26, Wednesday as the record date for the special interim dividend.

“Accordingly, the Board has fixed Wednesday, April 26, 2023 as record date for determining entitlement of members for the purpose of payment of Special Interim Dividend,” the company’s filing said.

JSL dividend 2023 payment date

The dividend amount will be credited directly into the shareholders’ bank account linked to their Demat account on the payment date. The payment date shall be May 17, Wednesday.

“The payment of Special Interim Dividend/dispatch of dividend warrants will be completed by May 17, 2023,” the company’s filing said.

Jindal Stainless Steel successfully completed the merger process of Jindal Stainless Hisar Limited (JSHL) with self and hence, decided to consider the declaration of a special dividend.

Earlier this month, the company informed the exchanges Crisil Ratings has revised its outlook on the stainless steelmaker’s long-term bank facilities and debt programme to ‘AA’ with a positive outlook.

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JSL in a statement said,” The rating agency has revised its outlook in view of the company’s improved business risk profile, an expected uptick in scale and forward integration with capacity expansion and acquisitions.