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Lusaka Zambia-Saturday 25th March 2023
Global Mining giant Vedanta Resources’ subsidiary company Hindustan Zinc Ltd (HZL) on Tuesday 21st March 2023 announced a dividend of US$0.32 per share – for an unprecedented fourth time this financial year. With the latest interim dividend of US$ 1.344 billion, the company has now declared dividends of US$0.92 apiece, amounting to US$ 3.916 billion the highest in its history.
In the past week, the stock has outperformed the market by surging 10 percent after the company announced its dividend plan.
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Hindustan Zinc is a mining and resources company that is engaged in exploring, extracting, and processing zinc, lead, silver, and cadmium and also produces wind power.
With its diversified portfolio, Vedanta Resources is one of India’s biggest private mining companies that plays an integral role in India’s economic growth.
The mining conglomerate is on the verge of breaking new ground, charting and creating more value to build new efficiencies and record new pathways of growth in its global operations by building a semiconductor facility along with Apple’s partner Foxconn.
The company remains committed to creating value in its Zambian subsidiary Konkola Copper Mines by investing an additional US$1 billion, towards capital mine development, expansion and upgrade, and other infrastructure to boost KCM’s output. The company commits to playing a major role in measurable and impactful corporate social responsibility programmes in order to uplift communities in Chilalbombwe, Chingola, Kitwe, and Nampundwe where KCM operates.
Vedanta further commits to pay the local suppliers specifically the small suppliers and improve the conditions of service for its employees among other commitments.
The good record of operational performance by Hindustan Zinc and other operations is a demonstration of the strength and resilience of Vedanta Resources at a global level.
Masuzyo Ndhlovu
Director Corporate Communications-Vedanta Resources
Lusaka, Zambia.
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