Shares of Hindustan Zinc rose 5% to Rs 325.25 on the BSE in intraday trade on Wednesday after the company declared an interim dividend of Rs 26 per share, equivalent to 1,300% of the face value of Rs 2 per share. This is the fourth interim dividend for the financial year 2022-23, amounting to Rs 10,985.83 crore, the company said in an exchange filing.

Hindustan Zinc has set March 29, 2023, as the record date for the payment of the fourth interim dividend. The company said the fourth interim dividend would be paid within the stipulated period stipulated by law.

The stock surged 10% over the past week, outperforming the broader market after the company announced plans to pay a dividend. The S&P BSE Sensex has risen less than 1% over the period.

Vedanta holds a 64.92% stake in Hindustan Zinc, while the Government of India has a 29.54% stake in the company.

Hindustan Zinc’s operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulfuric acid plants, one silver refinery, six captive thermal power plants in the Rajasthan plant and four self-contained solar power plants.

In addition, Hindustan Zinc owns a rock phosphate mine at Matoon near Udaipur in Rajasthan and zinc, lead and silver processing and refining facilities in Uttarakhand. The company also has wind farms in Rajasthan, Gujarat, Karnataka, Tamil Nadu and Maharashtra, and a solar farm in Rajasthan.

With an 80% market share (including alloys) of primary zinc in FY21-22, Hindustan Zinc remains India’s largest primary zinc producer.

The company will continue to benefit from its sound capital structure and strong liquidity driven by its dominant position in the domestic market, high cash flow from its core business, and efficient and integrated operations.