Hindustan zinc dividend

Hindustan Zinc Ltd, a Vedanta Group firm, on March 21, announced a fourth interim dividend of Rs. 10985.83 Crores to its shareholders, according to an exchange filing. The firm said its board approved a dividend of Rs 26 a share or 1300 percent for the financial year 2022-23. It fixed the record date for the dividend as March 29. "Board of Directors of the Company in its meeting held on March 21, 2023 have approved Fourth interim dividend of Rs 26/- per equity share i.e. 1300 percent on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs 10985.83 Crores," the regulatory filing stated. The interim dividend will be paid within stipulated timelines as prescribed under law, the exchange filing further noted. In January 2023, the firm had announced an interim dividend of Rs 13 a share. The company had declared a dividend of Rs 15.50 per share in November 2022. The company declared a Rs 21 dividend for its stockholders in July 2022. Recently, Hindustan Zinc made headlines when Reuters reported, citing a senior government source, that unless the company cancels the almost $3 billion cash acquisition of two Vedanta Group companies, the Indian government may postpone plans to sell a portion of its ownership in the company. The company, in the last financial results released for the quarter ending December 31, 2022, reported a 20.17 percent drop in its consolidated net profit at Rs 2,156 crore and announced that revenue from operations also fell 2.71 perce...

Hindustan Zinc Dividend: Board approves 1300% interim dividend — Check record date Hindustan Zinc Dividend 2023 News: Vedanta group company Hindustan Zinc's board has announced an interim dividend of Rs 26/- per equity share i.e. 1300 per cent on face value of Rs 2/- per share for the Financial Year 2022-23. • • • • • Hindustan Zinc has fixed the record date for the payment of the fourth interim dividend. According to information available on NSE, the record date for any such dividend will be March 29. What is a record date? A record date determines the shareholders eligible to receive the benefit of a corporate action such as a dividend payout. Hindustan Zinc dividend Payment Date The dividend amount will be credited directly into the shareholders' bank account linked to their Demat account on the payment date. "The fourth interim dividend will be paid within stipulated timelines as prescribed under law," the filing said. ALSO READ: Hindustan Zinc dividend history Here's a look at some of the HZL dividends announced in the recent past. Hindustan Zinc share price target 2023 Brokerage firm Citi has maintained a 'sell' for Hindustan Zinc and has given a target price of Rs 260. Hindustan Zinc share price: Historical performance Hindustan Zinc shares traded flat on Dalal Street on Tuesday. Hindustan Zinc shares have rewarded investors with a return of more than 11 per cent in the last six months, a period in which the Nifty50 headline index has declined three per cent. Catch ...

With the Though the shareholders of Hindustan Zinc—its promoter Hindustan Zinc has been considered a dividend play with an average yield of 7.6 per cent in last five years. Though the company’s balance sheet remains healthy, depleting cash reserves, a threefold increase in dividend payouts, company’s financials and other factors indicate that it may not continue as a ‘high dividend’ play in the future. Dividend bonanza Hindustan Zinc’s recently announced dividend, which is the fourth in the current financial year, brings the company’s total dividends paid in FY23 to ₹32,000 crore, a staggering 250 per cent increase over the last five-year average dividend paid. For context, the annualised revenues and PAT based on the financials for the first nine months of FY23 are at ₹34,100 crore and ₹10,570 crore, respectively. The payout ratio, which has averaged around 108 per cent in the last five years, may increase to nearly 300 per cent in FY23. Previously, FY21 proved to be a high dividend year, while there were no dividends in FY20. Declining cash reserves The company has been reinvesting funds back into the business at a healthy rate. The capex as a percentage of net profit has been at a healthy average of 37 per cent in the last five years. Revenue growth at 11 per cent CAGR in the last five years also supports this fact. On the other hand, the company’s liquidity position has taken a hit. Despite good growth in revenue and profit, the cash position of the company has decline...

Hindustan Zinc Dividend: Vedanta group firm Hindustan Zinc has announced to pay an interim dividend to its shareholders. The company while releasing its Q3 results on Thursday, January 19, said that the board has approved third interim dividend of the current fiscal. The company informed that the record date for eligibility of the third interim dividend will be declared on Monday, January 30, 2023. According to the BSE filing of Hindustan Zinc, “Board have approved third interim dividend of Rs. 13/- per equity share i.e. 650 per cent on face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs. 5,493 Crores. The record date for the purpose of payment of third interim dividend, as already communicated is Monday, January 30, 2023. The Third interim dividend will be paid within stipulated timelines as prescribed under law." The stock hit its new 52-week high and it gained 4.57 per cent intraday to end at Rs 377.55 apiece on BSE. The stock’s 52-week high is Rs 383 apiece and 52-week low is Rs 242 apiece, respectively. It has a market capitalisation of Rs 1,59,526.92 crore. The stock has given a return of 9 per cent in last 1-week, 17 per cent in last 1-month, 34 per cent in just last 3-months, and 16 per cent in last 1-year. In last 3-years, it has rallied 74 per cent. The subsidiary of Vedanta Limited, Hindustan Zinc stock has delivered a return of more than 35 per cent in last six months. The stock’s 52-week range is Rs 383.00 - Rs 242.05. At current lev...

One of the dividend stocks in India, Hindustan Zinc Ltd announced fourth interim dividend in FY23 on Tuesday. The board of directors of the state-owned company declared ₹26 per share interim dividend for the financial year 2022-23. The company has already fixed record date for finalising the eligible shareholder for interim dividend payment on 29th March 2023. From this ₹26 per share interim dividend, a big number of its shareholders are going to benefit directly as dividends are directly transferred into the bank account of company's shareholders. As LIC, ₹26 per share interim dividend. As per ther shareholding pattern of Hindustan Zinc for October to December 2022 quarter, Vedanta is expected to earn around ₹7,132 crore whereas Life Insurance Corporation (LIC) is expected to earn near ₹296 crore from the interim dividend announced by Hindustan Zinc on Tuesday. Vedanta to earn ₹7,132 crore As per the shareholding pattern of Hindustan Zinc for December 2022 quarter, Vedanta Ltd, which is a promoter of the company owns 2,74,31,54,310 Hindustan Zinc shares. As the PSU company announced ₹26 per share interim dividend, expected income of Vedanta from the dividend stocks' holdings via interim dividend comes around ₹7,132 crore ( ₹26 x 2,74,31,54,310). LIC to earn ₹296 crore According to shareholding pattern of Hindustan Zinc Limited for October to December 2022 quarter, LIC's LICI Ulip Growth Fund owns 11,41,42,717 Hindustan Zinc shares, which is 2.70 per cent of total paid up ...