5 March 2024

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Hindustan Zinc, a Vedanta affiliate, will pay its third dividend in 2023. Board has approved a ₹7 per share interim dividend

Hindustan Zinc, a Vedanta affiliate, will pay its third dividend in 2023. Board has approved a ₹7 per share interim dividend

Hindustan Zinc dividend: Hindustan Zinc Ltd, a Vedanta subsidiary, has announced an interim dividend of 7 per share to eligible shareholders for the fiscal year 2023-24. The 115th of July 2023 has already been set as the record date for the Hindustan Zinc dividend.

“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 a 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.

Hindustan Zinc, a Vedanta affiliate, will pay its third dividend in 2023. Board has approved a ₹7 per share interim dividend

“The record date for the purpose of payment of interim dividend, as already communicated, is Saturday July 15, 2023,” Hindustan Zinc Ltd said. The interim dividend will be paid within the legally mandated timeframes.”

Hindustan Zinc dividend history

Dalal Street’s dividend-paying stocks include Hindustan Zinc Ltd. In 2023, it paid a dividend of ₹13 per share in January and ₹26  per share in March. So, in 22023, this will be the third dividend announced by the Vedanta subsidiary firm. And Hindustan Zinc’s total dividend announced in 2023 is 46 (₹13 + ₹26 + ₹7).

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Vedanta dividend yield

Hindustan Zinc’s share price was about 315 at the start of 2023, and it paid out a total of 46 dividends this year. This indicates that the net dividend yield of this Vedanta subsidiary firm in 2023 will be 14.60%, which is significantly higher than the current Public Provident Fund (PPF) interest rate. In reality, this dividend yield is significantly greater than the 6 to 6.50 percent return on bank fixed deposits.