500% Dividend, 1:5 Split: Vedanta Subsidiary Hits 2nd 20% Upper Circuit, YTD Return 133.06%

Vedanta Limited's subsidiary Hindustan Zinc Ltd (HZL) shares are unstoppable. Today, Hindustan Zinc shares hit second consecutive 20% upper circuit. Hindustan Zinc shares have now jumped 66% in just last 14 days span and soared 140% in last 3-months. Earlier, Hindustan Zinc touched upper circuit on May 18, 2024. Metal stocks have been witnessing significant rally amid hopes that robust surge in metal prices will boost margins of the company.

Prices of industrial metal that may include aluminium, zinc, copper, lead witnessed rally amid supply worries and positive long-term demand thus triggering fresh wave of speculative buying. Metal prices have been witnessing gradual rally in 2024. Meanwhile, traders have also obtained sharp boost after neighbouring country China recently declared steps to support its crisis-hit property sector.

The yet another factor that led to a rally in metals prices include expectations that US Federal Reserve may go for a rate cut by September this year. Investors will be keeping a close vigil on the minutes from the Fed's last policy meeting expected to be released this week along with statements from key Fed officials.

Hindustan Zinc Dividend: Earlier, as per BSE filing dated May 7, 2024, the company gave approval to the Interim Dividend of Rs. 10/- per equity share i.e. 500% on face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 4,225.32 Crores. It set the record date as May 15, 2024 and the Interim Dividend shall be duly paid within the stipulated timelines as prescribed under law, added the BSE filing.

Hindustan Zinc Share Performance: The 52-week high price of Hindustan Zinc stock is Rs 742.55 per share (as on 21/05/2024) and 52-week low price is Rs 285.00 per share (as on 15/03/2024), respectively. Hindustan Zinc shares surged 33% in last 1-week only, soared 133% year-to-date, surged 144% in last 6-months, rose 152% in last 2-years, and offered return of 115% in last 3-years. In last 5-years, Hindustan Zinc stock surged 190%.

Hindustan Zinc Dividend History: It declared 42 dividends since June 28, 2001. In last 1-year, it declared an equity dividend amounting to Rs 13.00 per share. At the current share price of Rs 742.05 per share, Hindustan Zinc Ltd offers a dividend yield of 3.10%.

Hindustan Zinc Bonus Share History: The Vedanta's subsidiary declared 1 bonus issue since March 7, 2011. The last Bonus that Hindustan Zinc Ltd declared was in the ratio of 1:1 with ex-date set as March 7, 2011.

Hindustan Zinc Stock Split History: It split face value of its share once since March 7, 2011. Hindustan Zinc last split the face value of its shares from Rs 10 to Rs 2 in 2011. The share traded ex-split from March 7, 2011.

Hindustan Zinc Ltd About: Hindustan Zinc is India's largest and world's second largest integrated zinc producer. It is the 5th largest silver producers globally with an annual capacity of 800 MT. It is a subsidiary of Vedanta Limited which owns 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, according to its official website.

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