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Hindustan Zinc has announced a dividend worth nearly Rs 80 since May 2020.

Hindustan Zinc board meets today to consider second interim dividend
Hindustan Zinc board meets today to consider second interim dividend

To buy to sell posterior zinc to share

Hindustan Zinc Ltd., majority owned by Vedanta Ltd. of Anil Agarwal, will hold a board meeting on Wednesday to consider a second interim dividend.

The company had announced a first interim dividend of Rs 21 in July this year.

Since May 2020, the company has announced dividends in four instances, totaling nearly Rs 80.

Hindustan Zinc board meets today to consider second interim dividend

Vedanta will also be the center of attention as the company owns a 64.92% stake in Hindustan Zinc. The amount of dividend it receives from HZL will be passed on to its shareholders.

Vedanta’s shareholding in Hindustan Zinc has been consistent in recent years. The company’s total outstanding shares in Hindustan Zinc stands at 274.3 crores.

Based on the number of outstanding shares, Hindustan Zinc has paid dividends worth Rs 21,000 crore to Vedanta since May 2020.

Hindustan Zinc board meets today to consider second interim dividend

For the September quarter, Hindustan Zinc’s net profit rose 33% year-on-year to Rs 2,680 crore, driven by higher zinc volumes.

The company also mentioned that it was looking to expand its business to other European countries and was looking for suitable acquisition opportunities. It is the only integrated producer of zinc, lead and silver in India.

Shares of Hindustan Zinc are trading up 1.5% at Rs 319.15 and are flat year-to-date. The stock is currently trading at a dividend yield of 12.21%.


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