Hindustan Zinc Limited is a subsidiary of Vedanta Limited, which is ranked as one of the companies with the highest dividend payouts. On August 20, mining major Hindustan Zinc announced its decision to distribute a second interim dividend of Rs 19 per share for FY25, totalling Rs 8028.11 crore.

The dividend payment’s record date is scheduled for Wednesday, August 28. The special dividend is expected to benefit Vedanta, the majority stakeholder with 65% ownership in Hindustan Zinc, further reducing its financial leverage.

Vedanta, led by Anil Agarwal, sold a 3.17% stake in Hindustan Zinc through an offer-for-sale (OFS) conducted between August 16 and 19. The stake was offered at a floor price of Rs 486 per share, a discount to Hindustan Zinc’s closing price on August 13. The sale totalled approximately Rs 6,000 crore.

At the close of the June quarter, Hindustan Zinc reported a debt of Rs 11,178 crore, adding to the Vedanta Group’s consolidated debt of Rs 78,016 crore. Hindustan Zinc announced plans to distribute interim dividends amounting to Rs 4,225 crore in May, intended to support Vedanta’s debt reduction initiatives.

Hindustan Zinc is recognized as one of the top dividend-paying listed companies, with a dividend yield of 3.99%. The company previously distributed Rs 10 per share to its shareholders on May 15, 2024, and Rs 6 per share on December 14, 2023.

Ready to invest like a pro? The Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists, insightful market analysis and, much more!