Hindustan Zinc surged 9.05% to Rs 191 at 9:19 IST on BSE after the company said its board of directors at a meeting held yesterday, 30 March 2016, declared special golden jubilee dividend of Rs 24 per share for the financial year ending 31 March 2016
The announcement was made after market hours yesterday, 30 March 2016.Meanwhile, the S&P BSE Sensex was up 33.98 points or 0.13% at 25,372.56.
On BSE, so far 3.24 lakh shares were traded in the counter as against average daily volume of 94,000 shares in the past two weeks. The stock hit a high of Rs 199.80 so far during the day, which is a record high for the counter. The stock hit a low of Rs 185.90 so far during the day. The stock had hit a 117.20 on 25 August 2015.
The large-cap company has equity capital of Rs 845.06 crore. Face value per share is Rs 2.
Shares of Hindustan Zinc offered a dividend yield of 13.7% based on the stock's closing price of Rs 175.15 on the BSE yesterday, 30 March 2016.
Hindustan Zinc's net profit fell 23.9% to Rs 1811.39 crore on 11% decline in net sales to Rs 3385.19 crore in Q3 December 2015 over Q3 December 2014.
Hindustan Zinc is a subsidiary of Vedanta (formerly known as Sesa Sterlite), a part of London listed Vedanta Resources plc, a global diversified natural resources company. The company is one of the largest integrated producers of zinc-lead and a leading producer of silver. As per the shareholding pattern, Vedanta holds 64.92% stake and the Government of India holds 29.54% stake in Hindustan Zinc as at 31 December 2015.
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