Latest News | Hindustan Copper Shareholders Approves 23.2 Pc Dividend for FY22

New Delhi, Sep 28 (PTI) Shareholders of state-owned Hindustan Copper Ltd (HCL) on Wednesday approved a 23.2 per cent dividend for the financial year ended in March 2022.

The company would make a total dividend payout of Rs 112.17 crore as approved in the 55th Annual General Meeting, HCL said in a statement.

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During the meeting, HCL Arun Kumar Shukla said the production from the company's flagship project, Malanjkhand underground mine, has commenced.

He also informed that the company has repaid a loan of Rs 729 crore in FY2021-22 from its internal accruals.

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As the global economy moves toward net zero carbon emissions through the energy transition, the role of copper remains pivotal as the most efficient conductive material, indispensable for capturing, storing and transporting green energy, he said.

Hence, a significant rise in demand for copper has been predicted on account of the thrust on a low-carbon economy, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)