Hindustan Zinc declares fourth interim dividend of ₹26 per share, record date fixed

State-backed Hindustan Zinc Ltd on Tuesday said the company's board has approved a fourth interim dividend of ₹26 per equity share for fiscal 2022-23. The dividend of ₹26 per share of face value of ₹2 will lead to an outgo of ₹10,985.83 crore.

“We wish to inform you that the Board of Directors of the Company in its meeting held on March 21, 2023 have approved fourth interim dividend of ₹26/- per equity share i.e. 1300% on face value of Rs. 2/- per share for the financial year 2022-23 amounting to ₹10985.83 crore,” the company said in a filing.

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

The fourth interim dividend will be paid within stipulated timelines as prescribed under law, the company said.

The said 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 had earlier said.

Hindustan Zinc dividends

Hindustan Zinc has declared 39 dividends since 28 June, 2001. In the past 12 months, the company has declared an equity dividend amounting to ₹49.50 per share, according to Trendlyne data.

At the current share price of ₹310.60, this results in a dividend yield of 15.94 per cent.

Shares of Hindustan Zinc Ltd settled at ₹311, up by 0.13 per cent in Tuesday's trade. The stock quoted a 52-week high price of ₹383 and low price of ₹242.40.