[ad_1]
In January 2023, Vedanta said it will sell its global zinc assets to HZL for $2,981 million, but the government opposed its plan. Shares of Hindustan Zinc Ltd ended at Rs 310.45, down by Rs 0.20, or 0.064 percent on the BSE.
Vedanta Group firm Hindustan Zinc Ltd (HZL) on Tuesday, March 21, said its board has approved a fourth interim dividend of Rs 26 per equity share for 2022-23, amounting to Rs 10,985.83 crore.
“…we wish to inform you that the Board of Directors of the Company in its meeting held on March 21, 2023, have approved a fourth interim dividend of Rs 26/- per equity share i.e. 1300 % on the face value of Rs. 2/- per share for the Financial Year 2022-23 amounting to Rs 10,985.83 crore,” the regulatory filing stated.
The fourth interim dividend will be paid within stipulated timelines, the company said in a filing to the BSE. The record date for the purpose of determining the eligibility for payment of the interim dividend is March 29, 2023.
In January 2023, Vedanta said it will sell its global zinc assets to HZL for a cash consideration of $2,981 million. However, the government opposed the plan to sell its global zinc assets to HZL.
Vedanta’s board approved the sale of Zinc International assets held by THL Zinc Ventures Ltd (Mauritius) (THLZV), a direct wholly-owned subsidiary of the metals and mining major.
The assets held by THLZV through THL Zinc Ltd (Mauritius), comprising shares held in Black Mountain Mining Pty Ltd, South Africa (69.6 percent) and THL Zinc Namibia Holdings (Pty) Ltd (100 percent), Namibia, will be sold to the proposed wholly-owned subsidiary (SPV) of Hindustan Zinc Ltd (HZL) for a cash consideration not exceeding $2,981 million.
Currently, Vedanta holds 64.92 percent and the government holds a 29.54 percent stake in Hindustan Zinc Ltd. In 2002, it sold 26 percent of HZL to the mining billionaire Anil Agarwal-led Group. Hindustan Zinc is an integrated producer of zinc, lead and silver.
Shares of Hindustan Zinc Ltd ended at Rs 310.45, down by 20 paisa, or 0.064 percent on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Mar 21, 2023 5:25 PM IST
[ad_2]
Source link