Board Meeting On 20Th April 2017
The meeting of the Board of directors will be held on Thursday, April 20, 2017 to consider, inter alia, the unaudited results for the fourth quarter and audited results for the year ended 31st March 201711-04-2017
11-04-2017
Shareholding for the Period Ended March 31, 2017
Hindustan Zinc Ltd has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2017. For more details, kindly Click here05-04-2017
Big dividend payouts likely to continue for Hindustan Zinc
A 57% gain in prices over the past 12 months has driven zinc prices to a nine-year high, giving HZL plenty of cash in hand, with enough left over for some pretty generous dividend payouts. Hindustan Zinc announced a special one-time interim dividend last week of 1,375% - Rs 27.5 on one equity share of Rs 2 each, which means a payout of Rs13,985 crore, including dividend distribution tax. Counting the dividends paid out in April 2016 and October 2016, this makes HZL's payout the "largest dividend outflow" according to its management, by any company in India in a single financial year: a total, staggering payout over the year of Rs 27,157 crore, including tax. HZL's cash in hand should be about Rs. 15,000 crore after these payouts, but the amount will likely double in FY18 if zinc prices stay up, and HZL fulfills its planned expansion. The large dividend payouts are an about-turn for HZL, which in October 2016 had informed the BSE and NSE that it would only offer normal interim dividends to its shareholders. It had instead planned for a buyback offer. The Supreme Court order in Jan 2016 stayed the sale of the Indian government's remaining HZL stake. The court order complicates any move by HZL to make a buyback offer - if the government is not allowed to participate in the buyback, this might result in the share of the government in the company dropping. The government had sought a legal opinion on the buyback in February this year, asking if the buyback violated the court order. After the clarification, it looks like everyone has decided to play it safe, with no buyback on the cards. The only way HZL can now get cash to the government is huge dividend payouts. The government is getting an estimated 41.5% of the total dividend paid out in FY17 - approximately Rs. 11,259 crore. Analysts have shown some concern of HZL's capital allocation efficiency, and its payout size to investors (although these reports were issued before the most recent dividend). Motilal Oswal's latest report pegged HZL at neutral.31-03-2017
Updates
We have received several queries from shareholders regarding payment date of Special interim dividend of 1375% ie Rs 27.50 per share for 2016-17, declared by the Board of Directors in its meeting held on 22nd March 2017. This is to clarify that since 30th March 2017 is the record date to determine eligibility of shareholders to receive the dividend, the same would be paid in the week of 3rd April 2017.31-03-2017
Hindustan Zinc to turn ex-dividend
Shares of Hindustan Zinc will turn ex-dividend on Wednesday. The company is paying 27.50 a share as second interim dividend for fiscal 2016-17. The record date for the dividend is March 30. The...28-03-2017
Zinc rally to spur Hindustan Zinc's mine expansions: CEO Sunil Duggal
A 57% gain in zinc prices over the past 12 months has helped Hindustan Zinc deliver a record return to shareholders24-03-2017
Hindustan Zinc: Re-rating likely on rising dividend payout
Hindustan Zinc's (HZL's) announcement of a dividend of Rs 27.50 a share was cheered by the Street, with its stock price up 2.7 per cent to close at Rs 320.20 on Thursday. The Street had expected a dividend of up to Rs 20. With a year-to-date one of Rs 29.45 a share, the dividend yield now comes to more than nine per cent, and the payout is higher than the Rs 27.8 a share in FY16. This has further bolstered the Street's confidence, as well as expectations, from HZL.The company has distributed about 55 per cent of the cash on its books by announcing about Rs 14,000 crore of payout on Wednesday evening. Analysts remain positive on this trend and are not concerned at the cash reduction in its books. This is because the company has strong cash flows, which analysts estimate to be close to Rs 10,000 crore a year in FY18 and in FY19. The continuous ramp-up in volumes and a strong zinc price outlook are key reasons for the expectation. The improving dividend payouts could also lead to...24-03-2017
Updates
The Board of Directors in its meeting held on 22nd March 2017, has approved Special interim dividend of 1375% ie Rs 27.50 per share of Rs 2 each for the financial year 2016-17. As already intimated earlier, the record date for the same is 30th March 2017. Copy of press release issued is attached for record.22-03-2017
Change In The Date Of Board Meeting And Record Date
This is to inform that Board of Directors meeting scheduled to be held on Monday, 20th March 2017, to consider and declare second interim dividend, if any, for the financial year 2016-17, is now rescheduled to Wednesday 22nd March 2017 . Accordingly, in pursuance to regulation 42(3) of SEBI Listing Regulations (LODR), the Record Date fixed for the purpose of second interim dividend, if any, also stands changed from 28th March 2017 to 30th March 201718-03-2017