By Malvika Gurung
Investing.com — The mining company Hindustan Zinc (NS:) will fall under the radar this week as its shares will turn ex-dividend for an interim dividend of 1,300% for the financial year 2022-23.
The leading miner’s Board of Directors in a recent meeting announced a fourth Interim Dividend of 26/share on the face value of Rs 2 apiece for FY23, translating to 1,300% and aggregating to a total dividend amount of Rs 10,985.83 crore.
With the latest interim dividend announcement, Hindustan has now passed a total dividend of Rs 75.5/share for the ongoing financial year.
The record date of the corporate reward has been set as Wednesday, March 29, 2023. Hindustan Zinc will pay the fourth interim dividend to eligible shareholders of the company within stipulated timelines.
The stock will turn ex-dividend on the same date as its record date, that is on March 29.
The meg-cap miner’s current stock price is Rs 323.1/share, and at this price, Hindustan Zinc’s dividend yield stands at a whopping 23.36%.