There are some stocks that make investors rich by their dividends. Especially the PSU stocks of government companies are at the forefront of dividend declaration. In this episode, Hindustan Zinc had announced a dividend of more than 1000 percent a day earlier. The impact of this dividend has started showing on the stock.
In the stock of Hindustan Zinc, heavy buying was seen in the morning deals in Thursday’s session. Hindustan Zinc share price today opened higher and reached its intraday high of ₹287.85 on NSE, which is almost 6 per cent higher than Wednesday’s closing price of ₹271.65 per share.
Rs 21 dividend per equity share
The board of the state-owned metal company on Wednesday recommended a dividend of ₹21 per equity share (1050 per cent) for the financial year 2022-23. The Metal PSU Board has fixed July 21, 2022 as the record date for finalizing the eligible shareholders for dividend payment.
8873.17 crore dividend
Hindustan Zinc Limited has informed the Indian stock exchanges about the recommendation for dividend payment. The company said that they have approved an interim dividend of ₹ 21 per equity share for an amount of ₹ 8873.17 crore at the face value of ₹ 2 / – per share for the financial year 2022-23.
Increased production
Hindustan Zinc recently released its production report for Q1FY23. The company claimed that the highest ever production in the first quarter is 252,000 tonnes, which is 14 percent higher than the first quarter of FY22. This is largely due to production in Sindesar Khurd, Rampura Agucha and Kayad.
