Board Of Vedanta Group Stock Approves Second Interim Dividend Of 775%

The board of Vedanta Group Stock, Hindustan Zinc Ltd has today approved second interim dividend of 775% equivalent to Rs 15.50/- per equity share for the financial year 2022-23. The shares have gained 1.56% intraday. The current market price of Hindustan Zinc stock is Rs 319 apiece. Check key takeaways below:

1. Hindustan Zinc Ltd To Pay Second Interim Dividend Of Rs 15.50 Per Equity Share

The board of directors of Hindustan Zinc stated in the BSE filing on November 16, 2022, "In continuation to our letter dated November 11, 2022 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, 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 Crores"

The record date for the second interim dividend has already been fixed as November 24, 2022.

 

2. Hindustan Zinc Ltd Stock Outlook

The current market price of Hindustan Zinc is Rs 319 apiece. The stock's 52-week high is Rs 372 apiece and 52-week low is Rs 242 apiece. The company has a market capitalisation of Rs 1,34,808.80 crore.

3. Hindustan Zinc Ltd Return

The stock has given a return of 5% in last 5-years, 53% in last 3-years, and declined 3% in last 1-year. It has gained 11% in last 1-month and 9% in last 1-week.

4. Hindustan Zinc Dividend History

The company has been maintaining a good dividend record with continuously declaring good dividend for the last 5-years. If the current share price of Rs 319 is taken into consideration, it has a dividend yield of 5.64%. The company for the year ending March 2022 announced an equity dividend of 900% equivalent to Rs 18 per share.

5. Hindustan Zinc About

The large cap company is India's largest and world's second largest zinc-lead miner. With more than 50 years of operational experience, it gives highest priority to safety of its people and conservation of scarce natural resources through technology and innovation.

With a reserve base of 150.3 million MT and an average zinc-lead grade of 7.8% and mineral resources of 297.6 million MT, its mine life is over 25 years. Its fully integrated zinc operations currently hold 78% market share in India's primary zinc industry. It is the 6th largest silver producers globally with an annual capacity of 800 MT, according to its official website.

 

Disclaimer

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