Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Schnitzer Steel Industries, Inc. are the manufacturers and exporters of recycled metal products in North America, with operating facilities located in 25 states, Puerto Rico, and Western Canada. The Company operates at the intersection of metals recovery, reuse, recycling, and manufacturing. Its nonferrous products include mixed metal joint products recovered from the shredding process, as well as aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys. It also sells catalytic converters to specialty processors that extract the nonferrous precious metals. Its steel mill produces semi-finished goods (billets) and finished goods, consisting of rebar, coiled rebar, wire rod, merchant bar, and other specialty products, using recycled ferrous metal. It offers a range of products and services through its network that includes about 51 retail self-service auto parts stores, 54 metals recycling facilities, and an electric arc furnace (EAF) steel mill.
SCHN - Schnitzer Steel Industries Inc
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