 "Hindustan Zinc surges 5% on announcing liberal interim dividend")
Shares of Hindustan Zinc rallied 5 per cent to Rs 325.25 on the BSE in Wednesday’s intra-day trade after the company declared interim dividend of Rs 26 per share, which is 1,300 per cent on the face value of Rs 2 per share. This is fourth interim dividend for the financial year 2022-23 amounting to Rs 10,985.83 crore, the company said in an exchange filing.
Hindustan Zinc fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend. The fourth interim dividend will be paid within stipulated timelines as prescribed under law, the company said.
In past one week, the stock has outperformed the market by surging 10 per cent after the company announced dividend plan. In comparison, the S&P BSE Sensex was up less than 1 per cent during the period.
Vedanta holds a 64.92 per cent equity share of Hindustan Zinc, while the government of India holds 29.54 per cent stake in the company.
Hindustan Zinc’s operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulphuric acid plants, one silver refinery plant, six captive thermal power plants and four captive solar plants in the state of Rajasthan.
In addition, Hindustan Zinc also has a rock-phosphate mine in Matoon, near Udaipur in Rajasthan and zinc, lead, silver processing and refining facilities in the state of Uttarakhand. The company also has wind power plants in the states of Rajasthan, Gujarat, Karnataka, Tamil Nadu and Maharashtra and solar power plants in the state of Rajasthan.
Hindustan Zinc, with a primary zinc market share of 80 per cent (including alloys) in FY 2021-22, remained India’s largest primary zinc producers.
The company will continue to benefit from its favourable capital structure and strong liquidity, driven by dominant position in the domestic market, high cash flow from the core business, and efficient and integrated operations.
Hindustan Zinc fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend. The fourth interim dividend will be paid within stipulated timelines as prescribed under law, the company said.
In past one week, the stock has outperformed the market by surging 10 per cent after the company announced dividend plan. In comparison, the S&P BSE Sensex was up less than 1 per cent during the period.
Vedanta holds a 64.92 per cent equity share of Hindustan Zinc, while the government of India holds 29.54 per cent stake in the company.
Hindustan Zinc’s operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulphuric acid plants, one silver refinery plant, six captive thermal power plants and four captive solar plants in the state of Rajasthan.
In addition, Hindustan Zinc also has a rock-phosphate mine in Matoon, near Udaipur in Rajasthan and zinc, lead, silver processing and refining facilities in the state of Uttarakhand. The company also has wind power plants in the states of Rajasthan, Gujarat, Karnataka, Tamil Nadu and Maharashtra and solar power plants in the state of Rajasthan.
Hindustan Zinc, with a primary zinc market share of 80 per cent (including alloys) in FY 2021-22, remained India’s largest primary zinc producers.
The company will continue to benefit from its favourable capital structure and strong liquidity, driven by dominant position in the domestic market, high cash flow from the core business, and efficient and integrated operations.
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