Hindustan Zinc Declares 1,300% Interim Dividend of Rs 26/Share: Key Details

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Hindustan Zinc Declares 1,300% Interim Dividend of Rs 26/Share: Key Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of Hindustan Zinc (NS: HZNC ) surged 4.6% to Rs 325 apiece in early trade on Wednesday after the company’s Board meeting decision of declaring a fourth interim dividend for the financial year 2022-23.

The subsidiary company of Vedanta (NS: VDAN ) announced that its Board of Directors approved a fourth interim dividend of Rs 26/share on the face value of Rs 2 apiece for FY23, translating to 1,300% and aggregating to a total dividend amount of Rs 10,985.83 crore.

With the latest interim dividend announcement, Hindustan Zinc has now passed a total dividend of Rs 75.5/share for the ongoing financial year, taking the aggregate amount to a record Rs 32,000 crore.

The record date of the corporate reward has been set as Wednesday, March 29, 2023.

Hindustan Zinc will pay the fourth interim dividend to eligible shareholders of the company within stipulated timelines.

The mining stock traded as the top gainer on the 15-scrip index Nifty Metal .

According to InvestingPro data, a total of 15 investing models are covering the mega-cap metal stock, with the highest fair value set as Rs 426/share, an upside of 33.12% compared to the current share price.

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