Hindustan Zinc Dividend: Shares of Hindustan Zinc started trading ex-dividend on Wednesday, a day ahead of its record date for the purpose of payment of the second interim dividend. Hindustan Zinc is a Vedanta Group firm. The government of India owns nearly 35 per stakes in Hindustan Zinc.
Hindustan Zinc has announced to pay a whopping 775 per cent interim dividend to its shareholders. This translates into Rs 15.50 per equity share of the face value of Rs 2.
The record date for the purpose of payment of second interim dividend has been fixed as Thursday, November 24, 2022.
“We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Wednesday, November 16, 2022 have approved second interim dividend of Rs. 15.50/- per equity share i.e. 775% on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 6549.24 crore,” the company had informed in an exchange filing earlier this month.
The record date is a date that determines the eligibility of shareholders for receiving the dividend amount. It means that investors having shares of Hindustan Zinc in the Demat account on November 24 would get a Rs 15.50 dividend per share.
The company’s total payout on this account will be Rs 6549.24 crore. The dividend amount will be credited directly into the shareholders’ bank account linked to their Demat account on the payment date.
“…The second interim dividend will be paid within stipulated timelines as prescribed under law..” the company said in its exchange filing.
The company reported a nearly 33 per cent rise in consolidated net profit at Rs 2,680 crore for the quarter ended September 2022 on the back of factors like higher zinc volumes and prices and gains from strategic hedging. It had posted a consolidated net profit of Rs 2,017 crore in the year-ago period.
Meanwhile, its consolidated revenue from operations of the company in the July-September period increased to Rs 8,127 crore, over Rs 5,958 crore in the year-ago period.
Its mined metal output during the July-September period was at 2,55,000 tonnes, up neary 3 per cent, on the back of better grades and improved mill recoveries. Hindustan Zinc’s integrated metal production for the quarter was 2,46,000 tonnes, up 17.5 per cent year-on-year (YoY).
About the Company
Hindustan Zinc is the country’s only integrated producers of zinc, lead and silver. The company has its headquarters in Udaipur, Rajasthan where it has its zinc, lead mines and smelting complexes.
Hindustan Zinc stock has yielded a good return of around 12 per cent in the past one month.
The stock has a 52-week range of Rs 371.70 to Rs 242.05. At present levels, the stock has a market cap of Rs 1.35 lakh crore.
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