Hindustan Zinc zooms 6% on declaring Rs 21 interim dividend

New Delhi: Shares of Hindustan Zinc rallied as much as 6 per cent during early trade on Thursday after the company board approved an interim dividend for the financial year 2022-23.

The miner of zinc and other metals has announced an interim dividend of Rs 21 per share. The record date for payment of the interim dividend is July 21.

Following the update, shares of Hindustan Zinc zoomed about 6 per cent to Rs 287.80, before trading at Rs 284.70 at 9.30 am. The scrip had settled at Rs 271.85 on Wednesday.


The decision was given the nod at the meeting of the board of directors held on Wednesday, the company said. The interim dividend will be paid within stipulated timelines as prescribed under the law, the exchange filing further noted.

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

Hindustan Zinc is a subsidiary of Anil Agarwal-led Vedanta, which owns a 64.9 per cent stake in the company, while the government of India holds a 29.5 per cent stake.

Last week, the government sought bids from merchant bankers to assist it in offloading its 29.5 per cent stake in the company.