Hindustan Zinc Dividend: 300% interim dividend announced, share price of this company increased

Hindustan Zinc Special Dividend: Hindustan Zinc, a subsidiary of Vedanta Group, is going to give a big gift to its shareholders recently. It is known that the company can pay a dividend of 8 thousand crore rupees to its shareholders. However, the decision on this dividend will be taken in the board meeting on August 20. Board meeting on this will be held in Hindustan Zinc Company on Tuesday next week. It is said that special dividend will be announced in this meeting.

Hindustan Zinc Dividend: 300% interim dividend announced, share price of this company increased
Hindustan Zinc: Good news for investors in Vedanta group company Hindustan Zinc. The company has decided to pay interim dividend. When is the record date, check the details.
Hindustan Zinc: Share price increased.

Hindustan Zinc: Share price increased.
Hindustan Zinc, a Vedanta Group company, has declared its second interim dividend for the current financial year. After that, the company’s share price went up. Today, the company’s share price rose 2 percent to Rs 331.8 in intra-day trade on the Bombay Stock Exchange on Wednesday. It is learned that the company will pay an interim dividend of 300 per cent per equity share of Rs 2 face value. That is, the dividend will be six rupees per share.

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The company’s board of directors, through a resolution on Wednesday, December 6, 2023, has approved an interim dividend of Rs.6 on every equity share of face value of Rs.2, the company said in a filing to the stock exchange today. ie 300% dividend sanctioned. In 2023-24 it will total Rs 2535.19 crore.https://translate.google.com/ for more

It is learned that the mining-affiliated company has already announced a record date for second interim dividend payment. The record date has been fixed on December 14 by the organization. According to the company, the dividend will be paid within the prescribed period as per law.

According to a news agency source, those whose names can be found in the register of members of the company or on the date of record in the depository, will get the benefit of this dividend. Note that this company has paid about 14 percent dividend in the last one year. 46 per share for trailing twelve months profit has been paid.

Hindustan Zinc Dividend: Good news for investors! The company declared an interim dividend of 350% per share

share price
Today, the company’s share price rose by about 0.20 percent to Rs 325.65 at the market close on the National Stock Exchange. The stock has gained nearly 10 percent in the past month. Over the week, this stock has moved up by around 8.64 percent.

The stock has gained about 35.01 percent in value over three years. The stock has gained 21.06 percent in five years. It is reported that the market capitalization of the stock on that day was around 137597 crores.Starbucks CEO out. Brian Nicol of Chipotle is taking over 2024

Today, the company’s share price rose by about 0.20 percent to Rs 325.65 at the market close on the National Stock Exchange. The stock has gained nearly 10 percent in the past month.

Over the week, this stock has moved up by around 8.64 percent. The stock has gained about 35.01 percent in value over three years. The stock has gained 21.06 percent in five years. It is reported that the market capitalization of the stock on that day was around 137597 crores.Intraday Stock for Tomorrow 2024

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According to Trendline data, Hindustan Zinc has an average target price of Rs 267. It could be around 18 percent lower than the current market price. Currently, some analysts recommend selling Hindustan Zinc stock. Technically speaking, this stock has relative strength index of 71.8. That means the stock is in overbought zone.

Central Government and Vedanta Group will get huge profit from this dividend. Vedanta Group has 64.92 percent stake in Hindustan Zinc Company and for this Vedanta Group will earn around Rs.5100 crore from dividend. On the other hand, the central government has 29.24 percent stake in this company.

As a result, on his basis, the central government’s dividend income will be Tk 2400 crore. Vedanta Group has said that it will repay the debt with the proceeds from this dividend. However, this special dividend is completely different from the dividend that the company pays to its shareholders every year. A decision will be taken only after the National Company Law Tribunal approves the transfer of these funds to the General Reserve of the Company.

In the financial year 2023-24, Hindustan Zinc has paid a total dividend of Rs 5493 crore. Of this, 1622 crores have been transferred to the government. Earlier, the company had declared a total dividend of Rs 32,000 crore for the financial year 2022-23, while the government received Rs 9,500 crore as per its stake. Since the beginning of 2024, this Hindustan Zinc stock has seen very high returns. Share price increased by 80 percent within 8 months. Even the market capitalization of the company has increased to 2 lakh 41 thousand 582 crores.

It is known that this company’s offer for sale has also been launched from Friday, August 16. Bidding for this offer for sale will continue till August 19. Through this, Vedanta will sell its 3.31 percent stake. Hindustan Zinc is offering for sale at Rs 486. There is an opportunity to buy at 16 percent cheaper than the current share price. Last Wednesday, the price of this stock closed at 571 rupees.

Hindustan Zinc Dividend