Hindustan Zinc announced a fourth interim dividend of Rs 26/share, translating to 1,300% on the face value of Rs 2 apiece for FY23
The record date for the payment of the fourth Hindustan Zinc dividend is March 29, 2023. The interim dividend will be paid within stipulated timelines as prescribed under law, said HZL in its exchange filing
Record date is the specific day on which a company finalises the list of shareholders eligible for its forthcoming dividend distribution
Hindustan Zinc dividend of Rs 26 for each share of face value Rs 2 will lead to an outgo of Rs 10,986 crore. With the latest interim dividend announcement, HZL has now passed a total dividend of Rs 75.5/share for FY23, taking the aggregate amount to Rs 32,000 crore
In January 2023, Hindustan Zinc had announced an interim dividend of Rs 13/share. It had declared a dividend of Rs 15.50/share in November 2022. Prior to that, the company declared a Rs 21 dividend for its stockholders in July 2022
With a 29.54% stake, the government is the largest minority shareholder in Hindustan Zinc, Anil Agarwal-led while Vedanta owns 64.9%
Key beneficiaries of the Hindustan Zinc dividend will be Anil Agarwal’s Vedanta and the Indian government. Vedanta is expected to earn around Rs 7,132 crore, whereas govt-owned LIC is expected to earn about Rs 296 crore from the interim dividend
In February 2023, the government opposed Vedanta Ltd's proposal to sell its international zinc business to Hindustan Zinc Ltd for $2.98 billion over concerns of valuation
For the quarter ended December 31, 2022, Hindustan Zinc reported a 20.17% drop in its consolidated net profit at Rs 2,156 crore and announced that its revenue from operations also fell 2.71% to Rs 7,628 crore for the quarter
Hindustan Zinc shares jumped more than 2% intraday on 22 March. HZL share price has rallied nearly 5% in the last 5 days, and 12% in the last 6 months. However, the stock has fallen around 2% year-to-date
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