Shares of Hindustan Zinc hit a 52-week high of Rs 332 on 6 December after the company announced the second interim dividend of Rs 6 for the current fiscal year.

In its regulatory filing, the company said, “The board has approved the second interim dividend of Rs 6 per equity share i.e. 300 percent on the face value of Rs 2 per share for FY 2023-24 amounting to Rs 2535.19 crore.”

The company has set 14 December 2023 as the record date to determine the eligibility for the second interim dividend.

Earlier in June, the company had declared the first interim dividend of Rs 7 per share. During the previous fiscal year, the company has declared a total dividend of Rs 75.5 per share.

Vedanta Ltd holds a 64.92% stake in the company, which translates to around 274 crore shares, making the company eligible for an interim dividend of Rs 1,645 crore of the total dividend of Rs 2,535 crore set to be disbursed.

In its quarterly report for July-September, the company reported a 35.5% year-on-year (YoY) drop in its net profit, whereas the revenue surged by 18.5% YoY.

Moreover, the government is also looking to offload a 3.5% stake via the offer for sale of its 29.5% stake in the company.

At 3:20 pm, the shares of Hindustan Zinc were trading 0.26% higher at Rs 325.85 on NSE.