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HomeBusinessHindustan Zinc Declares 650% Interim Dividend; Check Amount, Record Date, Other Details

Hindustan Zinc Declares 650% Interim Dividend; Check Amount, Record Date, Other Details


Hindustan Zinc Dividend: Vedanta group firm Hindustan Zinc has announced to pay an interim dividend to its shareholders. The company while releasing its Q3 results on Thursday, January 19, said that the board has approved third interim dividend of the current fiscal.

The company informed that the record date for eligibility of the third interim dividend will be declared on Monday, January 30, 2023.

According to the BSE filing of Hindustan Zinc, “Board have approved third interim dividend of Rs. 13/- per equity share i.e. 650 per cent on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 5,493 Crores. The record date for the purpose of payment of third interim dividend, as already communicated is Monday, January 30, 2023. The Third interim dividend will be paid within stipulated timelines as prescribed under law.”

The stock hit its new 52-week high and it gained 4.57 per cent intraday to end at Rs 377.55 apiece on BSE. The stock’s 52-week high is Rs 383 apiece and 52-week low is Rs 242 apiece, respectively. It has a market capitalisation of Rs 1,59,526.92 crore. The stock has given a return of 9 per cent in last 1-week, 17 per cent in last 1-month, 34 per cent in just last 3-months, and 16 per cent in last 1-year. In last 3-years, it has rallied 74 per cent.

The subsidiary of Vedanta Limited, Hindustan Zinc stock has delivered a return of more than 35 per cent in last six months. The stock’s 52-week range is Rs 383.00 – Rs 242.05. At current levels, the company has a market cap of Rs 1.60 lakh crore.

Hindustan Zinc on Thursday reported a 20 per cent decline in consolidated net profit to Rs 2,156 crore for the quarter ended on December 31, 2022, on the back of higher expenses and lower revenue.

The company had posted a consolidated net profit of Rs 2,701 crore in the year-ago period, HZL said in a filing to BSE. The company’s consolidated revenue from operations in the October-December period dropped to Rs 7,628 crore from Rs 7,841 crore in the year-ago period.

Hindustan Zinc earlier this month said its mined metal output registered a marginal rise of one per cent to 2,54,000 tonnes in the third quarter of the current fiscal. The company’s mined metal production was 2,52,000 tonnes in the year-ago period.

In a statement, the company said that the mined metal production stood at 254kt in the third quarter of the current fiscal “driven by higher ore production and marginally down QoQ (Quarter-on-Quarter) due to overall mined metal grades.” Its refined metal production at 2,57,000 tonnes declined 2 per cent during the period under review. Hindustan Zinc’s integrated zinc production during the third quarter dropped by two per cent to 2,10,000 tonnes.

Hindustan Zinc is an integrated producer of zinc, lead and silver. The company has its headquarters at Udaipur in Rajasthan where it has its zinc lead mines and smelting complexes.

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