Vedanta Group Firm Hindustan Zinc informed that the company will pay interim dividend 21 per equity share after the board meeting. The company said there would be an outflow of Rs 8,873 crore from the dividend payment.
“We would like to inform you that the Board of Directors of the Company vide resolution passed by circulation on Wednesday, July 13, 2022 has approved an interim dividend of Rs.21 per equity share, i.e. at a face value of Rs.2 per share. 1050 per cent. amounting to Rs 8,873.17 crore in the financial year 2022-23,” the regulatory filing said.
The interim dividend will be paid within the time limit prescribed under the law, the exchange filing further noted.
The record date for payment of dividend would be July 21 and the dividend would be paid within the stipulated time frame, the company said.
The disclosure came after Hindustan Zinc reported a 14 per cent increase in production of the mined metal to 2,52,000 tonnes during the first quarter of FY13. Refined metal production stood at 260,000 tonnes in the first quarter of the current financial year, registering a growth of 10 per cent over the availability of mined metal and better plant availability and flat sequentially in Q1 FY22.
Refined metal production stood at 260,000 tonnes in the first quarter of the current financial year, registering a growth of 10 per cent over the availability of mined metal and better plant availability and flat sequentially in Q1 FY’22.
Integrated zinc production rose 10 percent to 2,06,000 tonnes. It said, “Refined lead production in the first quarter of FY 2013 was 54,000 tonnes, an increase of 11 per cent over the first quarter of FY 2012 and improved plant availability and pyro plants on lead-mode for part of the quarter.” 9 per cent sequentially due to operations of the
Hindustan Zinc shares closed at Rs 271.85 on the BSE on Wednesday, up 1.44 per cent from the previous day’s closing price. Anil Agarwal-led Vedanta holds 64.9 per cent stake in Hindustan Zinc. the government of India Holds 29.5% stake in the company.
financial situation
The company said in the final financial results released for the quarter ended April 30, 2022 that consolidated net profit during the period rose to Rs 2,928 crore, registering a year-on-year growth of 18 per cent.
Consolidated income rose to Rs 9,074 crore during the January-March period from Rs 7,242 crore in the year-ago period.
Last week, the Center had sought bids from merchant bankers to help it sell its 29.5 per cent stake in the company. The plan is to sell the stake in the open market in installments.
The views and investment suggestions of experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decision.
read all breaking news, today’s fresh newswatch top videos And live TV Here.