Hindustan Zinc stock falls 5% after company declares interim dividend of Rs 7 per share

Hindustan Zinc dividend 2023, Hindustan Zinc dividend 2023 record date, Hindustan Zinc share price NSE: Shares of Hindustan Zinc (HZL) on Monday slipped over 5 per cent on the bourses. The stock declined after Vedanta Group subsidiary's board announced a dividend of Rs 7 per equity share for the financial year 2022–23 of the face value of Rs 2 per share, i.e., a 350 per cent payout, on Saturday, July 8, to its shareholders.

The stock opened at Rs 331 and slipped as much as over 5 per cent to touch the day's low of Rs 324.05 from the previous close of Rs 340.6 on the NSE. The stock finished at Rs 328.95 apiece, down by Rs 11.65, or 3.42 per cent on the NSE.

The Board of Directors of the Company, through a resolution passed by circulation on Saturday, July 8, 2023, has approved an interim dividend of Rs. 7 per equity share, i.e., 350% on the face value of Rs. 2/- per share, for the Financial Year 2023–24, amounting to Rs. 2,957.72 crore," the company's regulatory filing said.

Hindustan Zinc dividend 2023 record date

The record date for the purpose of payment of the interim dividend is Saturday, July 15. 

Hindustan Zinc dividend payout date 2023

The interim dividend will be paid within stipulated timelines as prescribed by law.

Hindustan Zinc dividend history

Source: NSE

Hindustan Zinc share price history 

Hindustan Zinc's stock has given a positive return of over 21 per cent in the last 12 months (since July 11, 2022). In comparison, the headline index, Nifty 50, has rallied nearly 20 per cent.

Catch latest minute-by-minute stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.