Hindustan Zinc climbs over 4% as board to consider dividend

Shares of Hindustan Zinc rallied over 4% to Rs 310 on Monday after the company told exchanges that its board will meet on Wednesday to consider a second interim dividend.

The company in a filing during post-market hours on Friday stated that "the meeting of the board of directors of the company will be held on Wednesday, November 16, 2022, to consider and approve second interim dividend on equity shares, if any, for the financial year 2022-23".

The record date for eligibility of the second interim dividend, if any, so declared will be Thursday, November

24, 2022, the filing added.

The company's first interim dividend amounted to Rs 21 per share for which the stock turned ex-dividend on July 20.

Hindustan Zinc is a high dividend yield stock. For FY 2022, the company announced a total dividend of Rs 18 per share which at the current price results in a substantial yield of close to 6%.

The company's earnings for the September quarter are also expected to be announced on November 16.