Did you know that Vedanta holds a whopping 64.92% stake in Hindustan Zinc, most of which is pledged? This means that Vedanta is set to receive a total payout of ₹1,645 crore based on this stake. It’s clear that Vedanta’s investment in Hindustan Zinc has paid off handsomely, and this is a testament to the company’s sound investment strategy.
Hindustan Zinc Ltd., majority-owned by Vedanta Ltd., has declared a second interim dividend of ₹6 per share.
The record date for the second interim dividend has been set as December 14, 2023. This means that shareholders who own shares of the company on that date will be eligible for the dividend payout. The total consideration for the dividend payout is ₹2,535.19 crore.
Hindustan Zinc’s shares have risen by almost 2% in mid-week trading, currently trading at 330.75. This move has helped the stock turn positive for the year, with a 1.5% increase so far in 2023.
Hindustan Zinc’s second interim dividend of ₹6 per share is the lowest payout since 2018. The company had declared a total dividend of ₹75.5 for the full year 2023, including an interim dividend of ₹7 per share in July.
