Hindustan Zinc Limited A big and good news is coming for the investors of Vedanta Group. Hindustan Zinc Limited (HZL), a Vedanta Group company, may give a special dividend of Rs 8000 crore to its shareholders in the current financial year 2024-25. According to information received from sources, the company is working on a plan to give special dividend to its shareholders. Sources said that the Board of Directors of Hindustan Zinc may have an important meeting on this matter on Tuesday, in which the payment of special dividend for the current financial year will be considered and approved.
2400 crore rupees will go to the account of the central government
The source said, “Out of the Rs 8000 crore special dividend being considered by the company to be given to the shareholders, about 30 percent i.e. about Rs 2400 crore will go to the account of the Central Government. This will contribute significantly to the non-tax revenue of the government during the current financial year. ” This step has been taken after the National Company Law Tribunal (NCLT) approved the transfer of Rs 10,383 crore of general reserve to its retained earnings.
Vedanta Group will get Rs 5100 crore as dividend
Let us tell you that this special dividend will be different from the regular dividend of about Rs 6000 crore given by Hindustan Zinc every year. Apart from the government, Hindustan Zinc’s promoter Vedanta Limited will also benefit tremendously, which has about 65 percent stake in the company. According to this, Vedanta will receive a dividend of about Rs 5100 crore and Vedanta Group can use this money to improve its accounts.
The company’s shares closed with a decline of 1.31 percent on Wednesday
Let us tell you that on Wednesday, Hindustan Zinc shares closed at Rs 572.95, down 1.31 percent (Rs 7.60). The stock market was closed on Thursday on the occasion of Independence Day. The company’s shares are currently trading well below their 52 Week High. The 52 Week High of Hindustan Zinc shares is Rs 807.00. According to BSE, the company’s current market cap is Rs 2,42,089.65 crore.
With PTI inputs
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