Rajit Singh
Hindustan Zinc Ltd., a Vedanta Group company, is set to trade ex-dividend following the announcement of a substantial 950% dividend payout. This comes after a strong performance in the last six months, with the metal stock gaining 65.67%, as per BSE analytics.
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Second Interim Dividend
The board of directors at Hindustan Zinc, a leading producer of lead, zinc, and silver, has recommended a second interim dividend of ₹19 per share. This dividend, equivalent to 950% of the face value of ₹2 per share, amounts to ₹8,028.11 crore for the financial year 2024-25.
Record Date for Dividend
The record date to determine shareholders eligible for this dividend has been set for Wednesday, August 28, 2024. The dividend will be paid within the stipulated timelines following this date.
Share Performance
Shares of Hindustan Zinc have seen a significant uptick, opening at ₹495.75 on the BSE and reaching an intraday high of ₹505.70. The stock has climbed 61% over the past six months and 58% year-to-date in 2024.
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Recent Developments
It’s noteworthy that Vedanta recently completed an offer for sale (OFS) in Hindustan Zinc, raising ₹3,100 crore by selling 63.6 million shares. Although the company aimed to raise up to ₹6,500 crore, the OFS was only partially successful.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Consult a financial advisor before making any investment decisions.
Abhishek Kumar
