Rs 6/Share Dividend: Vedanta Subsidiary To Go Ex-Date In 3-Days, Share Jumps 8%

Vedanta Limited's subsidiary Hindustan Zinc Ltd (HZL) shares will trade ex-dividend on December 14, 2023. Last trading price of Hindustan Zinc share on BSE is Rs 325.40 per share with intraday gain of 0.76%. Hindustan Zinc shares offered return of 8.02% in last 2-weeks and gained 7.86% in last 1-month. Hindustan Zinc shares offer dividend yield of 14.14% if the last trading price of Rs 325.40 is taken into consideration. Hindustan Zinc Ltd announced 41 dividends since June 28, 2001. Check details below:

Hindustan Zinc Declares Interim Dividend: The board of directors issued BSE filing on December 6, 2023 stating, "In continuation to our letter dated December 03, 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 Wednesday, December 06, 2023 have approved 2nd 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 Crores."

Hindustan Zinc Sets Record Date For Interim Dividend: The record date for the purpose of payment of interim dividend, as already communicated is Thursday, December 14, 2023. The interim dividend will be paid within stipulated timelines as prescribed under law.

Hindustan Zinc Stock Outlook & Return: 52-week high price of Hindustan Zinc stock is Rs 383.00 per share and 52-week low price is Rs 290.55 per share, respectively. The large cap metals & ferrous sector company has a market capitalisation of Rs 1,37,491.88 crore. In last 6-months, Hindustan Zinc stock delivered 8% return, rallied 2.70% in last 1-year, fell 10.98% in last 2-years, gave return of 34% in last 3-years, and soared 19% in last 5-years.

Hindustan Zinc Financial Outlook: The Vedanta group firm Hindustan Zinc Ltd (HZL) declared a 35.4% decline in its consolidated profit to Rs 1,729 crore for the September quarter due to reduced sales and lower zinc prices. It has announced its consolidated profit at Rs 2,680 crore in the corresponding quarter of last year, as per its BSE filing. ''Net profit for the quarter was at Rs 1,729 crore... and for H1 (April-September) FY24 it was Rs 3,693 crore, down 36 per cent year-on-year, primarily on account of lower EBITDA partly offset by lower tax expense,'' the company said in a statement. Meanwhile, the consolidated income of Hindustan Zinc during the July-September period came down to Rs 7,014 crore, as against Rs 8,703 crore in the similar quarter of year-ago period.

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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