Vedanta Group Stock To Consider Interim Dividend, Sets Aug 28 As Record Date

Vedanta Subsidiary Hindustan Zinc will hold its meeting of Board of Directors on August 20, 2024 to consider and approve second interim dividend for the financial year 2024.25. Current market price of Hindustan Zinc Ltd shares on BSE is Rs 574.30 per share with decline of 1.08% in trade today. Hindustan Zinc shares slipped 11% in last 2-weeks and witnessed correction of 13.55% in last 1-month. In last 6-months, Hindustan Zinc shares zoomed over 85%. The market capitalisation of Hindustan Zinc stood at Rs 2,42,955.84 crore. Check details below:

Hindustan Zinc To Consider Interim Dividend, Sets Record Date: As per the regulatory filing of Hindustan Zinc issued as on August 14, 2024, "Pursuant to Regulation 29 of SEBI Listing Regulations, we wish to inform you that the meeting of the Board of Directors of the Company is proposed to be scheduled on Tuesday, August 20, 2024, to consider and approve the Second Interim Dividend on equity shares, if any, for the Financial Year 2024-25. 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 offered return of 81% year-to-date, gained 82% in last 1-year, offered return of 110% in last 2-years, and gained 180% in last 5-years. 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.

Vedanta Plans To Offload 2.6% Stake In Hindustan Zinc: According to the regulatory filing, "We wish to inform you that the duly authorized Committee of Directors of Vedanta Limited ("Committee"), at its meeting held today on August 13, 2024, has approved the sale of upto 11,00,00,000 equity shares of Hindustan Zinc Limited ("HZL"), representing 2.60% of the issued and paid-up equity share capital of HZL, by way of an offer for sale through the stock exchange mechanism, in accordance with applicable laws and the circulars issued by the Securities and Exchange Board of India and the stock exchanges."

Hindustan Zinc Earlier Dividend: 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.

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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