Hindustan Zinc has announced an interim dividend of ₹10 per share for the current financial year. That works out to a 500% return on its face value of ₹2. The record date for this payout has been fixed for June 17, meaning shareholders on that day will be eligible to receive the dividend.
This announcement comes on back of the strong March quarter numbers. Back in April, the company posted revenue of ₹9,087 crore. Compared to the same period last year, revenue rose by 20%.
Net profit for the quarter came in at ₹3,003 crore and marked a 47% jump year-on-year. On the operational side, EBITDA grew by 32%, rising to ₹4,820 crore. The EBITDA margin came in at 53%, compared to 48.3% last year.
Vedanta, which owns just over 63% of Hindustan Zinc, is set to receive a dividend payout of ₹2,679 crore this time. During the previous financial year, it had received ₹5,091 crore in total dividends from its holding in the company.
Apart from Vedanta, the Government of India holds 27.92% of the company. Retail shareholders, defined as those holding up to ₹2 lakh in authorised capital, accounted for just 2.48% of the shareholding at the end of the March quarter. That group included around 7 lakh individual investors.
Hindustan Zinc shares closed 2.78% lower at ₹519.20 in the National Stock Exchange. Shares of Hindustan Zinc have dipped 25% in the last year, 16% gain in the year-to-date, and 19.37% in the last month.
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