Rs 8,000 cr Payout! Hind Zinc announces 2nd interim dividend of Rs 19/share. Check record date

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The board of Vedanta-owned Hindustan Zinc approved a second interim dividend of Rs 19 per share for eligible shareholders on Tuesday, with August 28 set as the record date.

"We wish to inform you that the Board of Directors of Hindustan Zinc Limited (“the Company”), at its meeting held today i.e. Tuesday, August 20, 2024, has considered and approved the Second Interim Dividend of Rs. 19/- per equity share i.e. 950% on the face value of Rs 2/- per equity share for the Financial Year 2024-25 amounting to Rs 8,028.11 crores," said the company in a filing to the exchanges.


The parent company, Vedanta, will receive nearly Rs 5,100 crore from the dividend announced by Hindustan Zinc.

Earlier last week, Hindustan Zinc was in the spotlight as Vedanta's offer for sale (OFS) opened for subscription. Vedanta offloaded a 1.5% stake in the zinc company, raising Rs 3,100 crore.


At the end of the June quarter, Vedanta held a 64.92% stake in Hindustan Zinc Ltd. (HZL), while the government owned 29.54%. Vedanta plans to demerge its aluminium, oil and gas, power, base metals, and iron and steel businesses into separate listed entities. This demerger aims to reduce refinancing risks and reliance on dividends from Vedanta Resources Ltd.As of June 30, 2024, Vedanta's net debt was Rs 61,324 crore. Last month, the mining conglomerate raised Rs 8,500 crore (over $1 billion) through a Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share.In the past year, the shares of Hindustan Zinc have advanced 60% and have increased 58% in the current year so far.

The company's shares were trading 1.7% higher at Rs 504.10 on BSE around 12:30 pm.

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