Business News/ Companies / News/  Hindustan Zinc to consider interim dividend on March 21, fixes record date

Hindustan Zinc Ltd on Thursday said the company's board will meet on 21 March, 2023 to consider fourth interim dividend on equity shares for fiscal 2022-23.

"We wish to inform you that the meeting of the Board of Directors of the Company will be held on Tuesday, March 21, 2023 to consider fourth interim dividend on equity shares, if any, for the Financial Year 2022-23.," the company said in a regulatory filing.

Hindustan Zinc has fixed 29 March, 2023 as the record date for determining the eligibility of shareholders for the proposed dividend.

The interim dividend will be paid to the shareholders whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on 29 March, which is the record date, the company said.

The company's shares go ex-dividend a day or two before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

Hindustan Zinc has paid an equity dividend of 18 per share in the last 12 months, resulting in a dividend yield of 5.9 per cent.

Hindustan Zinc, a subsidiary of Vedanta, reported a consolidated net profit of 2,156 crore for the December quarter, which is 20 per cent lower than 2,701 crore reported in the year-ago period.

The revenue from operations, meanwhile, declined 2 per cent to 7,628 crore as against 7,841 crore in the same quarter last year.

Shares of Hindustan Zinc Ltd settled at 305.75, up by 3.57 per cent in Thursday's trade. It hit an intraday high of 305.95 and low of 295.50, respectively, during the day.

The stock quoted a 52-week high price of 383 and low price of 242.40.

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Updated: 16 Mar 2023, 11:16 PM IST
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