Hind Zinc gets generous

Intra day high point for Hind Zinc was at Rs.322.10, up 3%, some Rs.10 short of its 52-week high of Rs.333.40. In a stock like Hind Zinc when we say volumes have gone up 3 times, it is huge – from two-week average of around 4 lakh shares to over 11 lakh shares changing hands today in the morning session alone. The company’s market cap stands at Rs.1,35,125 crore.

This fiscal has been great for those looking for dividend income from Hind  Zinc. It had begun the fiscal with a Golden Jubilee special dividend of 1200% and then paid another interim dividend in October 2016. And now another second but ‘special’ interim dividend has been declared. This time around too it is generous at Rs.27.50 per Rs.2 equity share. This works out to an outgo of Rs.13,985 crore, including Dividend Distribution Tax (DDT) of Rs.2,365 crore.

Thus the total dividend payout by this Vedanta group company for FY17 stands at Rs.27,157 crore, the largest dividend outflows by any company in India in a single financial year.