Hindustan Zinc (HZL) on Tuesday declared an interim dividend of ₹19 per share — a bumper payout for parent Vedanta Limited.

The Anil Aggarwal-company is offering the dividend on shares that have a ₹2 face-value, a 950 per cent payout.

This will be the second such interim payment for the current financial year, and it will amount to ₹8,028.11 crore.

Vedanta Ltd held 64.92 per cent of HZL during the quarter ended June 30, 2024. Based on this shareholding it will receive a little over ₹5,211 crore.

However, the HZL promoter had offloaded 1.5 per cent through an offer for sale (OFS) on Tuesday. After this share sale, it will receive nearly ₹5,100 crore as interim dividend from HZL.

“The board...has considered and approved the second interim dividend of 19 per equity share i.e. 950 per cent on face value of Re 2 per equity share for financial year 2024-25 amounting to ₹8,028.11 crore,” Hindustan Zinc Ltd said in a regulatory filing to the stock exchanges on Tuesday.

For 2023-24, HZL had paid a total dividend of ₹5,493 crore, with the government receiving ₹1,622 crore for its 29.5 per cent stake in the company.

In 2022-23, the company had paid a dividend of around ₹32,000 crore.

Shares of HZL on Tuesday ended with gains of 3.34 per cent at ₹512.30 on the BSE.

HZL had reported a 19.3 per cent rise in consolidated net profit at ₹2,345 crore in the first quarter of this fiscal year ending June 30, 2024. The company had posted a net profit of ₹1,964 crore in the year-ago period.

The quarter saw its income rising to ₹8,398 crore from ₹7,564 crore in the same period of the previous year.

Hindustan Zinc Ltd is the world’s second-largest integrated zinc producer and the third-largest silver producer.