HZL to pay Rs 10,990-crore interim dividend at 1,300% of face value

The Rajasthan-based miner will pay an interim dividend of 26 rupees per share, according to an exchange filing Tuesday

By Swansy Afonso

Hindustan Zinc will pay Rs 10,990 crore ($1.3 billion) to its shareholders, a fourth dividend this year, which will help billionaire Anil Agarwal (pictured) meet debt obligations at the parent company. 

The Rajasthan-based miner will pay an interim dividend of Rs 26 per share, which is 1,300 per cent on the face value of Rs 2 per share, according to an exchange filing on Tuesday. Key beneficiaries will be Agarwal’s Vedanta, which owns about 65 per cent of Hindustan Zinc, and the Indian government that holds around 30 per cent. London-based Vedanta Resources is the ultimate holding