Anil Agarwal-led mining company Hindustan Zinc today announced a second interim dividend of Rs 15.5 per share or 775% for a face value of Rs 2 per unit for the ongoing financial year. The filing by the company said the dividend will amount to Rs 6,549.2 crore.
The company had already declared November 24 as the record date for the interim dividend. The second interim dividend will be paid within stipulated timelines as prescribed under law, read the filing. Ex-date for the dividend will be November 23, implying investors who wish to buy the stock for the dividend should do it before November 23.
Prior to this, the company had declared Rs 21 per share as the first interim dividend for FY23. In the previous financial year, the company had announced a total of Rs 18 per share dividend. This at the current share prices results in a dividend yield of over 5%.
Since June 28, 2001, the company has declared 38 dividends, Trendlyne data showed.
Of the 14 analysts calls on the counter, 2 suggest a buy, while 5 recommend holding the stock and other 7 suggest to sell the counter.
Hindustan Zinc is a large cap stock with a market capitalisation of Rs 1,34,000 crore. The company is the country’s largest and world’s second largest zinc-lead miner.
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