Vedanta group firm Hindustan Zinc board approves interim dividend of Rs 10/share for FY25

New Delhi: Vedanta group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board has approved an interim dividend of Rs 10 per share, amounting to Rs 4,225.32 crore for the ongoing financial year.

The company has fixed May 15 as the record date for the purpose of dividend payment.

"The board of directors of the company through resolution passed by circulation on Tuesday, May 07, 2024, consented by majority of directors...approved the interim dividend of Rs 10 per equity share i.e. 500 per cent on face value of Rs 2 per equity share for the financial year 2024-25 amounting to Rs 4,225.32 crore," Hindustan Zinc said in a regulatory filing.

Earlier, Hindustan Zinc announced plans to spin off its businesses into separate entities, including zinc and silver, to increase its market capitalisation. The Vedanta group company will continue to engage with the Centre on its proposal to split the company into different entities.

The government, the largest minority shareholder in Hindustan Zinc, owns a 29.54 per cent stake in the company.

*** F5 elevates Pratik Shah as MD for India, SAARC region * F5, a multi-cloud and application security solutions provider, on Tuesday named Pratik Shah as the Managing Director for its operations in India and the South Asian Association for Regional Cooperation (SAARC) region.

He joined F5 in 2019 and was responsible for building the company's sales business in the western region of India. He was promoted to Director of Sales to manage the India Enterprise business in 2022.

Shah will succeed Dhananjay Ganjoo, who retired on May 3, 2024.

*** Fortune Hotels signs second property at Siliguri * Fortune Hotels, a part of ITC hotel group, on Tuesday said it has signed a second property at Siliguri, West Bengal.

The new hotel to be named Fortune Park is expected to open in March 2025.

It is a brownfield project located on 1.47 acres of land and has been designed to cater to the strong demand in the local market, especially for events and social gatherings, the company said in a statement.

"This is our second signing in Siliguri and with it, we will stand to gain a stronger footprint and a larger share of business in this region," Fortune Hotels Managing Director Samir MC said.