Shares of the miner rose 3.5%, whereas these of its Indian mother or father Vedanta Ltd have been up 0.7%. Vedanta Ltd owned 63.4% of Hindustan Zinc, as of Aug. 19.
Vedanta Sources had a debt of $6 billion as of March 31 and is searching for to chop its debt by $3 billion over the following three years, it stated earlier this yr.
It has been eyeing numerous fund-raising choices to attain that objective.
Hindustan Zinc has set August 28 because the dividend cost’s file date, or the day the corporate finalizes the checklist of shareholders eligible for the payout.
Tuesday’s announcement takes Hindustan Zinc’s whole payout for the yr to 122.53 billion rupees, increased than the 55 billion rupees from final yr.
($1 = 83.7875 Indian rupees)
(By Manvi Pant and Indranil Sarkar; Enhancing by Savio D’Souza and Nivedita Bhattacharjee)