Hindustan Zinc drops on ex-special dividend

Hindustan Zinc dropped 10.36% to Rs 292.15 at 9:45 IST on BSE after the stock turned ex- special dividend today, 29 March 2017 for special dividend of Rs 27.50 per share for the year ending 31 March 2017.

Before turning ex-special dividend, the stock offered a dividend yield of 8.43% based on the closing price of Rs 326 yesterday, 28 March 2017.

Meanwhile, the S&P BSE Sensex was up 34.84 points or 0.14% at 29,451.45.

On the BSE, 2.86 lakh shares were traded on the counter so far as against the average daily volumes of 2.56 lakh shares in the past two weeks. The stock had hit a high of Rs 296.85 and a low of Rs 276.20 so far during the day. The stock had hit a record high of Rs 333.40 on 3 February 2017. The stock had hit a 52-week low of Rs 158.20 on 8 April 2016.

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

Hindustan Zinc's net profit rose 26.1% to Rs 2319.90 crore on 46% growth in net sales to Rs 4943.89 crore in Q3 December 2016 over Q3 December 2015.

Hindustan Zinc is a subsidiary of Vedanta (formerly known as Sesa Sterlite), a part of London listed Vedanta Resources plc, a global diversified natural resources company.

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