Vedanta group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board has approved an interim dividend of Rs 10 per share, amounting to Rs 4,225.32 crore for the ongoing financial year.
The company has fixed May 15 as the record date for the purpose of dividend payment.
"The board of directors of the company through resolution passed by circulation on Tuesday, May 07, 2024, consented by majority of directors…approved the interim dividend of Rs 10 per equity share i.e. 500 per cent on face value of Rs 2 per equity share for the financial year 2024-25 amounting to Rs 4,225.32 crore," Hindustan Zinc said in a regulatory filing.
Earlier, Hindustan Zinc announced plans to spin off its businesses into separate entities, including zinc and silver, to increase its market capitalisation. The Vedanta group company will continue to engage with the Centre on its proposal to split the company into different entities.
The government, the largest minority shareholder in Hindustan Zinc, owns a 29.54 per cent stake in the company.
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