Tycoon Agarwal’s India Zinc Arm to Pay $305 Million in Dividends
- Cash may aid ultimate parent Vedanta Resources to pare debt
- About $1 billion bond repayment of Vedanta is due in January
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Hindustan Zinc Ltd. will pay $305 million in dividends to shareholders ahead of its ultimate parent Vedanta Resources Ltd.’s $1 billion bond repayment due next month.
Billionaire Anil Agarwal’s Indian zinc maker will give 6 rupees a share, or a total of 25.4 billion rupees, in a second interim dividend for the financial year that started on April 1, the company said in an exchange filing Wednesday. It distributed almost 30 billion rupees in July and about 319 billion rupees in four tranches last year.