Vedanta subsidiary Hindustan Zinc declares third dividend in 2023. Declares ₹7 per share interim dividend

Vedanta subsidiary company informed Indian stock market bourses about the decision citing, “In continuation to our letter dated July 05, 2023 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Saturday, July 08, 2023 have approved Interim Dividend of Rs. 7 per equity share i.e. 350% on face value of Rs. 2/- per share for the Financial Year 2023-24 amounting to Rs. 2957.72 Crores.”

On dividend record date, Hindustan Zinc Ltd said, “The record date for the purpose of payment of interim dividend, as already communicated is Saturday July 15, 2023. The interim dividend will be paid within stipulated timelines as prescribed under law.”

Hindustan Zinc dividend history

Hindustan Zinc Ltd is one of the dividend paying stocks listed on Dalal Street. In 2023, it has given dividend of ₹13 in January and ₹26 per share in March 2023. So, in 22023, this will be the third dividend that the Vedanta subsidiary company has declared. And the total dividend declared by Hindustan Zinc in 2023 is ₹46 ( ₹13 + ₹26 + ₹7).

Vedanta dividend yield

At the beginning of 2023, Hindustan Zinc share price was around ₹315 whereas it has given total ₹46 dividend in this year. This means, net dividend yield of this Vedanta subsidiary company in 2023 is at 14.60 per cent, which is much higher than the Public Provident Fund (PPF) interest rate being given in this time. In fact, this dividend yield is much higher than 6 to 6.50 per cent return given by bank fixed deposits.

Updated: 08 Jul 2023, 11:07 AM IST