1:5 Split, 1:1 Bonus: Vedanta Group Company Declares 950% Dividend Worth Rs 8,028.11 Crore; How To Be Eligible

 Vedanta Group-backed metal giant company, Hindustan Zinc has carried one bonus issue and one stock split, but it has a strong history of rewarding investors with dividends. And once again, Hindustan Zinc is back with a hefty dividend for FY25. The metal company is set to pay a Rs 19 per share dividend worth a massive Rs 8,028.11 crore. How to be eligible?

As per the latest regulatory filing, Hindustan Zinc has announced its second interim dividend of Rs. 19/- per equity share i.e. 950% on the face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 8028.11 Crore.

Since June 2001, the company has paid a whopping 43 dividends. And on the current market price, it has a dividend yield of 3.13%.

Earlier, Hindustan Zinc turned ex-dividend in May 2024, for its first interim dividend of Rs 10 per share for FY25.

1. Declaration Date: Date of approval of Dividend Rate (per share) by the Board of Directors of the Company.

2. Record Date: Proposed by the Board of Directors to determine the name of the eligible shareholders for the dividend. All eligible shareholders with their names in the list at the end of the Record Date will be eligible to receive dividends. To be eligible for receiving dividends: Investors are to have shares in the Demat account by the record date.

3. Ex-Dividend Date: On this day the price of the equity share of the Company gets adjusted for the dividend payout.

4. Payment Date/ Issue Date: Payment of dividend is to be completed within 30 days of its approval. Eligible shareholders receive the dividend amount before this date

HZL has intimated earlier that the record date for the second interim dividend of Rs 19 per share is set for Wednesday, August 28, 2024. Hence, investors must hold HZL shares by the end of a record date to receive the reward.

The ex-dividend date will be the same as the record date for HZL's upcoming dividend.

Hindustan Zinc Other Corporate Actions: 

HZL carried one bonus issue in March 2011 in the ratio of 1:1. While its only stock split was also done in March of that year, in the ratio of 1:5 where face value of Rs 10 each was split to Rs 2 each.

Hindustan Zinc Share Price:

 After market hours, HZL share price ended at Rs 510.90 apiece, down by 0.27% on BSE on August 21. The market cap is at Rs 2,15,871.55 crore. 

The stock's 52-week high and low are at Rs 807 apiece and Rs 285 apiece respectively.

 HZL shares were up by 13% on BSE YTD. 

On August 21, HZL signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), a premier institute sponsored by the Department of Science and Technology, Government of India. This collaboration aims to develop new variants of zinc materials to propel the commercialization of zinc-based batteries.

Hindustan Zinc, a Vedanta Group company, is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world's most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation, and leading ESG practices. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner.


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