After declaring ₹15.5 interim dividend, Hindustan Zinc shares trade ex-dividend today

Vedanta group firm Hindustan Zinc’s board approved the second interim dividend of ₹15.50 per equity share for the current financial year 2022-2023. The total payout would amount to ₹6,549.24 crore. The record date for the purpose of payment of second interim dividend has been fixed as Thursday, November 24, 2022.

“We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Wednesday, November 16, 2022 have approved second interim dividend of Rs. 15.50/- per equity share i.e. 775% on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 6549.24 crore,” the company had informed in an exchange filing earlier this month.

The company reported a nearly 33% rise in consolidated net profit at ₹2,680 crore for the quarter ended September 2022 on the back of factors like higher zinc volumes and prices and gains from strategic hedging. It had posted a consolidated net profit of ₹2,017 crore in the year-ago period. 

Meanwhile, its consolidated revenue from operations of the company in the July-September period increased to ₹8,127 crore, over ₹5,958 crore in the year-ago period.

Its mined metal output during the July-September period was at 2,55,000 tonnes, up neary 3%, on the back of better grades and improved mill recoveries. Hindustan Zinc’s integrated metal production for the quarter was 2,46,000 tonnes, up 17.5% year-on-year (YoY).

Hindustan Zinc is the country’s only integrated producers of zinc, lead and silver. The company has its headquarters in Udaipur, Rajasthan where it has its zinc, lead mines and smelting complexes.

In the past 12 months, Hindustan Zinc Ltd. has declared an equity dividend amounting to ₹39.00 per share, as per data by Trendlyne, and t the current share price, this results in a dividend yield of 12.20%.