300% Dividend: Hindustan Zinc Board Approves Second Interim Dividend Of Rs 6 Per Share; Stock Rises

Hindustan Zinc, a subsidiary of Vedanta Limited on Wednesday, announced that the Board of Directors of the Company has approved 2 nd Interim Dividend of Rs. 6 per equity share i.e. 300% on the face value of Rs. 2/- per share for the Financial Year 2023-24 amounting to Rs. 2535.19 Crores.

Following this announcement, Hindustan Zinc shares traded 0.22% higher at Rs 325.60 per share at 10:26 am IST. At the share price of Rs 325, Hindustan Zinc has a dividend yield of 14.15%.

The company has set December 14, 2023, as the record date for the purpose of payment of interim dividend.
Hindustan Zinc is a dividend-paying stock and the company has declared 41 dividends since June 28, 2001, according to Trendlyne data.

In the past 12 months, Hindustan Zinc Ltd. has declared an equity dividend amounting to Rs 46.00 per share. The stock has a 52-week high and 52-week low of Rs 383.00 and Rs 290.55 per share. In the last one year, Hindustan Zinc shares have gained 3.64%.

In the quarter ending September, Hindustan Zinc saw a 35.5% year-on-year (YoY) fall in net profit.

On Wednesday, in an exchange filing the company said, "In continuation to our letter dated December 03, 2023 and under Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Wednesday, December 06, 2023 have approved 2 nd Interim Dividend of Rs. 6 per equity share i.e. 300% on face value of Rs. 2/- per share for the Financial Year 2023-24 amounting to Rs. 2535.19 Crore."

Hindustan Zinc record date for payment of interim dividend

The company has fixed December 14 as the record date for the purpose of payment of the interim dividend.

About the company:

Hindustan Zinc is India's largest and the world's second-largest integrated zinc producer. With a total R&R base of 460.1 million tonnes and an average zinc-lead grade of 6.8%, our mine life is over 25 years. The company claims to be the 5th largest silver producer globally with an annual capacity of 800 MT.

Hindustan Zinc is a subsidiary of Vedanta Limited which owns a 64.9% stake in the Company while the Government of India retains a 29.5% stake.

Hindustan Zinc's operations comprise lead-zinc mines, hydrometallurgical zinc smelters, lead smelters, pyro metallurgical lead-zinc smelter as well as sulphuric acid and captive power plants in northwest India.