Dividend stock: Hindustan Zinc to consider 4th interim dividend in FY23.

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Shares of dividend stock: Hindustan Zinc Ltd. would consider paying a fourth interim dividend in the fiscal year 2022–2023 after previously paying three interim dividends totaling 49.50 per share with a 15.50% dividend yield. The company’s board of directors will discuss the request for an interim dividend payment at its meeting planned for today, March 21, 2023. The state-owned corporation has previously established March 29, 2023 as the record date for divided payments.

“In accordance with Regulation 29 and 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Company will be held on Tuesday, March 21, 2023 to consider fourth interim dividend on equity shares, if any, for the Financial Year 2022,” Hindustan Zinc Ltd. said in a statement to Indian exchanges about the schedule of board meetings and the record date for interim dividend.

The PSU business also announced the record date for dividend payment, stating that it would be March 29, 2023, as the day by which the fourth interim dividend, if any, would be eligible for payment.

dividend yield for Hindustan Zinc
Hindustan Zinc first went ex-dividend on July 20, 2022 for the payment of the interim dividend of 21 rupees per share for the fiscal year 2023. Afterwards, it traded ex-dividend for the payment of a 15.50 euro interim dividend per share on November 23, 2022, and for a 13 euro interim dividend payable for the fiscal year 2023 on January 30, 2023. As a result, Hindustan Zinc paid a dividend of Rs. 49.50 (Rs. 21 + Rs. 15.50 + Rs. 13) per share for FY23.

The state-owned company’s dividend yield, excluding the interim dividend that will be issued today, is approximately 15.50% given that Hindustan Zinc’s share price was around 320 per unit at the start of FY23.

Source: mint