Hindustan Zinc Declares Rs 8,028 Crore Second Interim Dividend at Rs 19 Per ShareHindustan Zinc Declares Rs 8,028 Crore Second Interim Dividend at Rs 19 Per Share

Hindustan Zinc has announced a second interim dividend of Rs 19 per share for FY25, totaling Rs 8,028.11 crore. This information was shared with stock exchanges on August 20. Following the announcement, Hindustan Zinc’s shares rose by 3 percent at 1:00 PM, while Vedanta Limited’s shares increased by 0.5 percent.

The record date for this dividend payment is set for Wednesday, August 28. This special dividend will benefit Vedanta, which holds around 65 percent of Hindustan Zinc’s shares. The dividend will help Vedanta reduce its debt.

Vedanta, led by Anil Agarwal, recently sold a 3.17 percent stake in Hindustan Zinc through an offer-for-sale (OFS) from August 16-19. The stake was sold at a floor price of Rs 486 per share, below Hindustan Zinc’s closing price on August 13. The total value of the OFS was about Rs 6,000 crore.

This sale is part of Vedanta’s plan to raise $2.5 billion to manage its high debt. As of the end of June, Hindustan Zinc reported a debt of ₹11,178 crore, while Vedanta’s total consolidated debt stands at ₹78,016 crore.

Hindustan Zinc is known for paying high dividends, with a current yield of 3.99 percent. The company had previously paid a dividend of Rs 10 on May 15, 2024, and Rs 6 on December 14, 2023.