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Hindustan Zinc declares second interim dividend of Rs 15.5; Vedanta to earn Rs 4,250 crore

Hindustan Zinc declares second interim dividend of Rs 15.5; Vedanta to earn Rs 4,250 crore

Hindustan Zinc declares second interim dividend of Rs 15.5; Vedanta to earn Rs 4,250 crore
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By Hormaz Fatakia  Nov 16, 2022 5:44 PM IST (Updated)

Hindustan Zinc has announced dividend worth nearly Rs 100 since May 2020.

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Hindustan Zinc Ltd., which is majority owned by Anil Agarwal's Vedanta Ltd., has declared a second interim dividend of Rs 15.5 for the current financial year. The total dividend payout will be worth Rs 6,549.24 crore.
The company had announced a first interim dividend of Rs 21 in July this year.
Since May 2020, the company has announced dividends on five instances, totaling to nearly Rs 100.
Vedanta, which holds a 64.92 percent stake in the company has managed to maintain this level for the last few years. The company's total outstanding shares in Hindustan Zinc stand at 274.3 crore.
Based on the number of outstanding shares, Vedanta will earn Rs 4,251.65 crore as dividend from Hindustan Zinc. The amount earned will also be passed on to Vedanta's shareholders.
Since May 2020, Hindustan Zinc has paid dividend worth nearly Rs 25,000 crore to Vedanta
For the September quarter, Hindustan Zinc's net profit increased 33 percent year-on-year to Rs 2,680 crore led by higher volumes of Zinc.
The company also mentioned that it is looking to expand its operations to other European countries and is on the lookout for suitable acquisition opportunities. Currently, Hindustan Zinc is India's only integrated producer of zinc, lead and silver.
Shares of Hindustan Zinc ended 1.5 percent higher at Rs 319.65 and are flat year-to-date. The stock is currently trading at a dividend yield of 12.21 percent.
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