News Delhi: Hindustan Zinc Ltd has declared an interim dividend of Rs 7 per share to its shareholders in FY23-24. The company will release the interim dividend on July 15, 2023.

Hindustan Zinc Ltd is a subsidiary owned by mining major, Vedanta Ltd.

“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,” the company said.

On the 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 declares dividend for the 3rd time

India’s largest zinc miner, listed on Indian bourses is one of the dividend-paying stocks. In 2023, Hindustan Zinc had already announced dividends for two times, one in January for Rs 13 and the other in March for Rs 26.

Until now the company has distributed Rs 46 in total as dividends among shareholders.

Hindustan Zinc Ltd

Vedanta Ltd’s subsidiary operates the third-largest open-pit mine with the world’s largest zinc mine in Rampura Agucha, Rajasthan. Shares of Hindustan Zinc Ltd on Friday closed with positive numbers on BSE, up by 1.29 per cent to Rs 340.50.

(Written by – Mahek Nigam

Edited By – Prateek Gautam)