Hindustan Zinc to Pay ₹10 per share dividend

8 May 2024 , 09:23 AM

Hindustan Zinc Ltd (HZL), a company of the Vedanta group, announced on Tuesday that its board has recommended an interim dividend of ₹10 per share, or ₹4,225.32 Crore, for the current fiscal year.

The record date for dividend payments is set by the corporation as May 15.

“The board of directors of the company through resolution passed by circulation on Tuesday, May 07, 2024, consented by majority of directors…approved the interim dividend of ₹10 per equity share i.e. 500% on face value of ₹2 per equity share for the financial year 2024-25 amounting to ₹4,225.32 Crore,” Hindustan Zinc stated in a regulatory filing.

Prior to this, Hindustan Zinc declared that it will raise its market capitalization by spinning out its operations into distinct companies, including those in zinc and silver. Regarding the Center’s suggestion to divide the corporation into many entities, the Vedanta group company will keep interacting with it.

With a 29.54% ownership holding in Hindustan Zinc, the government is the company’s largest minority shareholder.

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