Midcap Telecom Set To Trade Ex-Dividend On Sept 23 For 20% Payout, Scrip Rallies 5.18%

Telecom company HFCL Ltd. on Tuesday rallied 5.18%. Recently, the Board of Directors of the company fixed the record date as Saturday, Sept 23, 2023, for the 20% or Re 0.20/share dividend for the Financial Year 2022-23. The Board recommended dividend on May 08, 2023.

The dividend is subject to shareholders' approval at the AGM. The Dividend for the financial year 2022-23, if declared, at the ensuing annual general meeting, will be paid to the shareholders, within 30 days from the date of declaration.

"The Registers of Members and Share Transfer Books of the Company shall remain closed from Monday, September 25, 2023 to Saturday, September 30, 2023 (both days inclusive) for the purpose of AGM and Dividend," the Board of Directors said in a filing.

The Board added, "Further, the Record Date for the purpose of determining the name of members for entitlement of dividend, if declared, at the ensuing AGM of the Company, will be Saturday, September 23, 2023."

According to a regulatory filing by the Board of Directors on May 08, "Dividend for the financial year 2022-23 @ 20%, i.e., Re. 0.20/- per equity share of face value Re.1/- each, out of the Profits of the Company for the financial year 2022-23, which shall be paid, subject to the approval of the shareholders in the ensuing annual general meeting or other authorities, wherever required."

The shares of HFCL closed at Rs 79.28 apiece on the BSE with day's high of Rs 80.49 and lows of Rs 74.54, respectively.

The stock surged 10.99% in the past 1 week, while in 1 month, it surged 21.04%. It gained 0.74% in the past 1 year. It gave 381.95% robust return in the past 3 years, and 222.28% in the past 5 years. The stock has performed well compared to the Sensex over the past 5 years.

The stock recorded its 52-week high on Dec 09, 2022, at Rs 88.80 apiece and its 52-week low on Mar 28, 2023, at Rs 55.75 per share.

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