Hindustan Zinc declares ₹11 per share interim dividend totaling ₹4,648cr
Business
Hindustan Zinc, part of Vedanta, just announced a hefty ₹11-per-share interim dividend, adding up to a total payout of ₹4,648 crore for shareholders.
The record date is April 30.
This move comes right after the company posted some standout numbers for the March quarter.
Hindustan Zinc net profit up 67%
The company's net profit shot up 67% year-over-year to ₹5,033 crore, outpacing analyst predictions. Revenue jumped 49% to ₹13,544 crore and EBITDA grew by 60%.
Even with these big wins on paper, Hindustan Zinc's stock actually dipped 2.8% on April 24 and is down nearly 6% so far this year.
Vedanta still holds the majority stake.