Vedanta's Hindustan Zinc board approves interim dividend of Rs 21 per equity share

Vedanta group firm Hindustan Zinc on July 13 informed the stock exchanges that its board has approved an interim dividend of Rs 21 per equity share.

The decision was given the nod at the meeting of the board of directors held earlier in the day, the company said.

Hindustan Zinc will end up paying a total dividend amounting to Rs 8,873.17 crore for the fiscal year 2022-23.

"We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Wednesday, July 13, 2022 have approved Interim Dividend of Rs 21 per equity share i.e. 1050 percent on face value of Rs 2 per share for the financial year 2022-23 amounting to Rs 8,873.17 crores," the regulatory filing stated.

"The record date for the purpose of payment of interim, as already communicated is Thursday, July 21, 2022," it added.

The disclosure came days after Hindustan Zinc reported a 14 percent increase in mined metal production to 2,52,000 tonnes during the first quarter of FY23.

The refined metal production in the first quarter of the current fiscal was at 260,000 tonnes, registering a rise of 10 per cent as compared to Q1 FY22 in line with availability of mined metal and better plant availability and flat sequentially, it had said.

The company, in the last financial results released for the quarter ending April 30, 2022, said the consolidated net profit during the period increased to Rs 2,928 crore, marking an 18 percent year-on-year surge.

The consolidated income during the January-March period increased to Rs 9,074 crore from Rs 7,242 crore in the year-ago period, it had said.