Shares of Hindustan Zinc will turn ex-dividend on Thursday for the fourth time in FY23. The Anil Agarwal company has been a consistent dividend payer in FY23, having announced Rs 75.50 per share in total dividend in the financial year so far. Here are five things you should know about Hindustan Zinc’s dividend.
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Dividend in FY23
Hindustan Zinc announced its fourth interim dividend of Rs 26 per share, totalling Rs 10,986 crore. This was in addition to Rs 13 per share dividend the metals & mining giant announced in January, Rs 15.50 per share dividend it paid in November and Rs 21 interim dividend it went for in July last year.
Vedanta key beneficiary
Vedanta held 64.92 per cent stake in Hindustan Zinc, as of December 31. The dividend announced by the world’s second-largest integrated zinc producer and sixth-largest silver producer globally would help promoter Vedanta fetch Rs 7,132 crore in dividend payout on 2,74,31,54,310 shares it owned in Hindustan Zinc as of December quarter-end.
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Dividend payment on April 20
The dividend would be paid to those shareholders, whose names will appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares, as on Wednesday, March 29. The dividend will eventually be paid to eligible shareholders on April 20.
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Hindustan Zinc dividend history
Hindustan Zinc announced a total dividend of Rs 18 per share, amounting to Rs 7,606 crore in FY22. It paid Rs 21.30 per share dividend in FY21, totalling Rs 9,000. It paid 16.50 per share in total dividend in FY20, Rs 20 per share in total dividend in FY19 and Rs 8 per share in total dividend in FY18.
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Dividend yield
Data available with corporate database AceEquity suggests Hindustan Zinc’s dividend yield stood at 6.1 per cent in FY21 and 5.2 per cent in FY22. Its dividend yield at Tuesday’s closing price of Rs 328.70 stood at 5.62 per cent.
