Hindalco Dividend 2024: Board recommends 350% dividend - Check full details

Hindalco Dividend 2024: Hindalco Dividend 2024: Hindalco Industries on Friday announced that its board of directors has recommended a dividend of Rs 3.50 or 350 per cent per equity share having a face value of Re 1. The Aditya Birla Group company said this while announcing its Q4 FY2024 results.

"The Board of Directors of the Company recommended a dividend of Rs. 3.50 /- per equity share of Re. 1/- each for the year ended March 31, 2024, subject to the approval of Shareholders at the ensuing Annual General Meeting of the Company," the company said in an exchange filing. 

The company has not mentioned anything related to the record date and payment date.

Meanwhile, the company has reported a 31.6 per cent rise in consolidated net profit at Rs 3,174 crore for the quarter ended March 31, 2024, on the back of stronger margins and volumes across aluminium and copper business segments.

The company had posted a net profit of Rs 2,411 crore in the January-March period of FY23, Hindalco Industries said in a filing to BSE.

Total income during the quarter under review rose to Rs 56,356 crore over Rs 56,209 crore in the year-ago period.

"Consolidated PAT in Q4 FY24 was Rs 3,174 crore compared to Rs 2,411 crore in Q4 FY23, up by 32 per cent Y-o-Y," the company said in a statement.
Hindalco concluded the year with very strong results across all business segments. This was a clear testament to its strategic focus on value-added products and margin improvement, Hindalco Industries Managing Director Satish Pai said.

Hindalco is the world's largest aluminium company by revenues and a major player in copper. It caters to more than half of the India's copper requirement.