Hindustan Zinc’s board has approved a second interim dividend of ₹19 per share, amounting to a total payout of ₹8,028 crore. This follows the company’s earlier announcement of a first interim dividend of ₹10 per share.
The stock has shown gains in response to this announcement, recovering from a previous four-day decline where it fell over 20%.
In an exchange filing, Vedanta Ltd., the promoter of Hindustan Zinc, revealed that it sold a 1.51% stake in the company through an Offer for Sale (OFS). This reduced Vedanta’s total stake from 64.92% to 63.42%. As a result, Vedanta is expected to receive approximately ₹5,091 crore from this dividend payout.
Hindustan Zinc had previously declared a record dividend payout of nearly ₹32,000 crore for the financial year 2023, followed by a ₹5,493 crore payout for the financial year 2024.
Shares of Hindustan Zinc are currently trading 1.52% higher at ₹503.25 on NSE.
