Hindustan Zinc to pay ₹19 as second interim payout

Vedanta group firm Hindustan Zinc Ltd on Tuesday (August 20, 2024) said its board has approved the second interim dividend of ₹19 per share for the current financial year amounting to ₹8,028.11 crore.

The board gave the go-ahead in a meeting held on Tuesday.

"The board...has considered and approved the second interim dividend of ₹19 per equity share i.e. 950% on face value of ₹2 per equity share for the financial year 2024-25 amounting to ₹8,028.11 crore," Hindustan Zinc Ltd (HZL) said in a filing to BSE.

PTI had earlier reported that HZL is planning a special dividend payout of ₹8,000 crore to its shareholders in FY25.

For FY24, HZL paid a total dividend of ₹5,493 crore, with the government receiving ₹1,622 crore for its 29.5% stake in the company.

In FY23, the company set a record by paying out a dividend of around ₹32,000 crore, with the government receiving a substantial ₹9,500 crore.

HZL has reported 19.3% rise in consolidated net profit at ₹2,345 crore for June quarter FY25 due to higher EBITDA. The company had posted a net profit of ₹1,964 crore for the year-ago period.

Income rose to ₹8,398 crore from ₹7,564 crore in the year-ago period.

Hindustan Zinc Ltd is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
You might also like