Hindustan Zinc drops ex-dividend

Hindustan Zinc lost 2.92% to Rs 171.45 at 10:27 IST on BSE as the stock turned ex-dividend today, 12 May 2015, for final dividend of Rs 2.50 per share for the year ended 31 March 2015.

Meanwhile, the S&P BSE Sensex was down 454.89 points or 1.65% at 27,052.41.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 1.12 lakh shares in the past one quarter.

The stock hit a high of Rs 175.25 and low of Rs 171.10 so far during the day. The stock had hit a 52-week low of Rs 121.10 on 9 May 2014. The stock had hit a record high of Rs 190.40 on 19 February 2015.

The stock had outperformed the market over the past one month till 11 May 2015, advancing 1.55% compared with Sensex's 4.75% fall. The scrip had also outperformed the market in past one quarter, declining 3.26% as against Sensex's 3.6% fall.

The large-cap company has equity capital of Rs 845.06 crore. Face value per share is Rs 2.

Before turning ex-dividend, the stock offered a dividend yield of 1.41% based on the closing price of Rs 176.60 yesterday, 11 May 2015.

Hindustan Zinc's net profit rose 6.2% to Rs 1997.44 crore on 13.5% growth in net sales to Rs 4073.11 crore in Q4 March 2015 over Q4 March 2014.

Hindustan Zinc is a Vedanta Group company in zinc, lead and silver business.

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