Rs 19/Share Dividend Approved: Vedanta Group Stock Jumps After 12% Correction In 1-Week

Board of Directors of Vedanta Subsidiary Hindustan Zinc Ltd (HZL) today considered and approved the second interim dividend of Rs 19/- per equity share i.e. 950% on the face value of Rs 2/- per equity share for the financial year 2024-25. Current market price of Hindustan Zinc shares on BSE is Rs 509.90 per share with gain of 2.85% on BSE. Hindustan Zinc shares witnessed a correction of 12.47% in last 1-week after Vedanta sold 63.6 million shares of HZL in 2-day OFS that ended on August 19. Earlier, Vedanta sought to raise approximately Rs 6,500 crore by divesting stake of 3.17%. Hindustan Zinc has a market capitalisation of Rs 2,16,653.23 crore. Vedanta Ltd. owns 64.92% stake in Hindustan Zinc. Check details below:

Hindustan Zinc Ltd Approves Interim Dividend: According to the BSE filing of Hindustan Zinc Ltd issued as on August 20, "we wish to inform you that the Board of Directors of Hindustan Zinc Limited ("the Company"), at its meeting held today i.e. Tuesday, August 20, 2024, has considered and approved the Second Interim Dividend of Rs. 19/- per equity share i.e. 950% on face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 8028.11 Crores."

Hindustan Zinc Sets Record Date For 2nd Interim Dividend: Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Wednesday, August 28, 2024."

Hindustan Zinc Shares Performance: Hindustan Zinc share recorded decline of 16.56% in last 2-weeks, gained 59% year-to-date (YTD), rose 62% in last 1-year, and gained 81% in last 2-years. In last 5-years, Hindustan Zinc stock rallied 146%. The 52-week high price of Hindustan Zinc stock is Rs 807.00 apiece (as on 22/05/2024) and 52-week low price is Rs 285.00 apiece (as on 15/03/2024), respectively.

Hindustan Zinc Quarterly Results: The company on August 2 announced its consolidated net profit for the quarter ended June 30, 2024 quarter at Rs 2,345 crore, up 19% as compared to Rs 1,964 crore declared in the corresponding quarter of last year. The company's EBITDA surged to Rs 3,951 crore for Q1 FY25 as against Rs 3,3348 crore declared in the similar quarter of last year. EBITDA margin of Hindustan Zinc declared at 48.6% for June quarter as against 45.98% in the year-ago period. Its revenue from operations zoomed 11% YoY to Rs 7,893 crore for the quarter ended June 30, 2024.

Hindustan Zinc Previous Dividend In 2024: Hindustan Zinc on May 7, 2024 announced an Interim Dividend of Rs. 10/- per equity share i.e. 500% on face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 4,225.32 Crores. It fixed May 15, 2024 as the record date.

Hindustan Zinc Bonus Share History: It announced 1 bonus issue since March 7, 2011. Its last bonus share was announced in the proportion of 1:1 with ex-bonus date fixed as March 7, 2011.

Hindustan Zinc Stock Split History: Hindustan Zinc split the face value once since March 7, 2011. Hindustan Zinc last split the face value of its shares from Rs 10 to Rs 2 in 2011.The share traded ex-split as on March 7, 2011.

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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