Hindustan Zinc Announced Dividend Of Over 1,000% To Its Shareholders

According to information provided to the stock market, Hindustan Zinc has stated that it will distribute a 1050 percent dividend to its stockholders.

A 1050 percent dividend has been declared by Hindustan Zinc for its stockholders. The record date has been set by the corporation as July 21. The company’s shares have a face value of Rs 2 each.

Hindustan Zinc, a subsidiary in the Vedanta Group, announced to the stock exchange on Wednesday that its board has recommended a dividend for shareholders of Rs 21 per share.

Also Read: James Webb Space Telescope: NASA’s Telescope Captures Amazing Visuals Technology

According to the business, the board of directors meeting conducted on July 13 was where this decision was made. For the fiscal year 2023, Hindustan Zinc would distribute a total dividend of Rs. 8,873 crore.

“We tell you that the Board of Directors of the Business in its meeting held on July 13, has offered to pay a dividend of Rs 21 (100%) each share of the Company having face value of Rs 2,” the company said in a communication sent to the stock market. It was decided to accept the proposal.

The Record Date Confirmation

According to the firm, the record date for interim dividend payments will be July 21, 2022. The business has guaranteed that the dividend would be paid in the allotted time. 

Let us inform you that the record date is typically one day after the ex-dividend date. 

To this day, dividends are still given to anyone who purchases shares. On the day of the record date, the corporation verifies the shareholder information.

Performance of Hindustan Zinc

On NSAE, shares of Hindustan Zinc concluded the day on Wednesday up 2.02% at Rs 271. The stock has lost 14.53 percent so far this year. 

The stock has dropped by about 1.50% during the past month. This stock has decreased by around 20% during the past year. Its 52-week high is 408 and its 52-week low is 242.40 rupees. Analysts suggest selling the company’s shares.

Also Read: Euro Comes Equal To The Dollar For The First Time In 20 Years

According to a report released by Hindustan Zinc last week, the company’s mining output grew by 14% to 2,52,000 tonnes in the first three months of the current fiscal year.

As per the corporation, many of its factories are producing more iron ore. An Indian firm called Hindustan Zinc is involved in lead, silver, and zinc mining in India. 

The business also owns wind farms. Vedanta Group is its parent firm. Hindustan Zinc has a market value of Rs. 1.13 lakh crore.