The shares of Hindustan Zinc are on an uptrend and have gained 8% in the past three days. Its shares closed at ₹ 319.15 apiece on Wednesday.
The company informed the exchanges that its board will be meeting on Wednesday to consider and approve a second interim dividend, if any, for the financial year 2022-23. It said that the record date for this dividend, if any, shall be November 24, 2022.
It informed the exchanges that the trading window shall remain closed for insiders from Friday, November 11, 2022, to Friday, November 18, 2022 (both days inclusive), in accordance with the Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Policy of the Company.
TDS Deduction
The Vedanta group firm has also created a shareholder’s portal on its website. Using this portal, the shareholders desiring to have lower TDS deducted/ No TDS deducted from the second interim dividend amount payable to them can upload requisite documents for lower tax deduction/ No tax deduction latest by November 24, 2022, 5:00 PM.
Dividend History
Hindustan Zinc is a large-cap company with a market capitalization of 1,32,802. It has an excellent dividend yield of 12.41%. The company declared a dividend of 1050% of its face value in July, this year. Further, it has distributed dividends totalling to ₹ 76.80 per share since April 2020.
Quarterly Result
On the back of higher revenue from operations, the company reported a 3.9% increase in its net profit to ₹ 2017 crores in the July-September quarter, as compared to ₹ 1,940 crores in the corresponding quarter last year. Its revenue from operations increased to ₹ 3,571 crores, as against ₹ 3,428 crores in the corresponding period a year ago.
Hindustan Zinc is one of the lowest-cost producers of zinc globally and it is India’s only integrated producer of zinc, lead and Silver. It is a subsidiary of Vedanta Ltd which holds a 64.92% stake in it. The Government of India holds a 32.49% stake, the public holds a 1.78% stake and the rest is held by FIIs.
Written by Simran Bafna
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