Hindustan Zinc board approves dividend of Rs 2,535.19 crore

Vedanta group firm Hindustan Zinc Ltd on Wednesday said its board has approved a second interim dividend of Rs 6 per equity share for FY24, amounting to Rs 2,535.19 crore. "The board of directors of the company through resolution passed by circulation on Wednesday, December 6, 2023 have approved 2nd interim dividend of Rs 6 per equity share i.e. 300 per cent on face value of Rs 2 per share for the Financial Year 2023-24 amounting to Rs 2,535.19 crores," the company said in a stock exchange filing.

The interim dividend will be paid within stipulated timelines, it said.

The company had announced its first interim dividend of Rs 7 per share in July this year.

Billionaire Anil Agarwal is considering a major restructuring of his profitable zinc unit Hindustan Zinc Ltd to help the Vedanta group reduce its debt.

Hindustan Zinc Ltd had earlier said that it could create separate legal entities for its zinc and lead, silver, and recycling businesses to help capitalise on "distinct market positions" and attract investors.

A committee of directors will evaluate the options and advise the board, along with external advisers.

Hindustan Zinc is world's second largest integrated zinc producer and fifth largest silver producer. The company holds about 80 per cent of the growing zinc market in the country, having its headquarters at Udaipur and zinc, lead mines and smelting complexes spread across Rajasthan.

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