Large Cap Vedanta Group Subsidiary Approves Rs 7 Per Share Interim Dividend

Large cap Vedanta Group subsidiary, Hindustan Zinc Ltd (HZL) on July 8, 2023 approved an interim dividend of Rs 7 per equity share i.e. 350% on the face value of Rs 2/- per share for the financial year 2023-24. Earlier this month on July 5, board of directors of Hindustan Zinc declared July 15, 2023 as the record date for the eligibility of interim dividend. Last trading price of Hindustan Zinc share is Rs 340.50 per share with intraday gain of 1.29%. Check details below:

Hindustan Zinc Declares Interim Dividend: According to the BSE filing of Hindustan Zinc Ltd dated July 8, "In continuation to our letter dated July 05, 2023 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Saturday, July 08, 2023 have approved Interim Dividend of Rs. 7 per equity share i.e. 350% on face value of Rs. 2/- per share for the Financial Year 2023-24 amounting to Rs. 2957.72 crores."

Record Date For Interim Dividend: Earlier, Hindustan Zinc fixed record date for interim dividend and informed BSE in its regulatory filing on July 5, 2023, "Further, pursuant to the provisions of the Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Code of the Company, the trading window for this purpose will remain closed from July 05, 2023 till July 11, 2023. The Record date for eligibility of interim dividend, if any, so declared will be Saturday July 15, 2023, informed Hindustan Zinc to stock exchanges on Wednesday."

Hindustan Zinc Stock Outlook & Return: Last trading price of Hindustan Zinc share is Rs 340.50 per share with intraday gain of 1.29% as of July 7, 2023. Its 52-week high price is Rs 383.00 per share and 52-week low price is Rs 247.35 per share, respectively. The large cap metals & ferrous sector company has a market capitalisation of Rs 1,43,872.11 crore. In last 2-weeks, Hindustan Zinc stock delivered 10% return, 11% return in last 1-month, 5% return YTD, 33% return in last 1-year, and 74% in last 3-years. It gave 232% return in last 10-years.

Hindustan Zinc Financial Outlook: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 8,863.00 crore, up 7.90% from previous quarter total income of Rs 8214.00 crore. It announced its latest quarter net profit after tax at Rs 2,583.00 crore.

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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