Dividend stock: Hindustan Zinc to consider 4th interim dividend in FY23. Details here
Dividend yield of Hindustan Zinc in FY23 is 15.50% in previous three interim dividends declared by the PSU company
Dividend stock: After paying ₹49.50 per share in previous three interim dividends and a dividend yield to the tune of 15.50 per cent, Hindustan Zinc Ltd is going to consider fourth interim dividend in the financial year 2022-23. The board of directors of the company is going to consider the proposal for interim dividend payment in the meeting scheduled on 21st March 2023 i.e. today. The state-owned company has already declared record date for divided payment on 29th March 2023.
Informing Indian exchanges about the board meeting schedule and record date for interim dividend, Hindustan Zinc Ltd said, "In terms of Regulation 29 and 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 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 PSU company also declared record date for dividend payment citing, "The Record date for eligibility of fourth interim dividend, if any, so declared will be Wednesday, March 29, 2023."
Hindustan Zinc dividend yield
In previous three interim dividends, Hindustan Zinc first traded ex-dividend on 20th July 2022 for payment of ₹21 per share interim dividend for FY23. Later on, it traded ex-dividend on 23rd November 2022 for payment of ₹15.50 per share interim dividend and on 30th January 2023, it once again traded ex-dividend for payment of ₹13 per share interim dividend payable for FY23. Hence, dividend declared by Hindustan Zinc in FY23 is ₹49.50 ( ₹21 + ₹15.50 + ₹13) per share.
Leaving the interim dividend to be announced today aside, the state owned company's dividend yield is around 15.50 per cent as Hindustan Zinc share price was around ₹320 apiece at the beginning of FY23.
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