Published On: Wed, Mar 30th, 2016

Hindustan Zinc Announces Record Dividend on its Golden Jubilee

Share This
Tags

Hindustan ZincUdaipur: Hindustan Zinc Announces Record Dividend on its Golden Jubilee – Dividend will entail an outflow of approximately Rs. 12,205 crore, including dividend distribution tax.
Special Golden Jubilee dividend of 1200% i.e. Rs. 24 on an equity share of Rs. 2 each.
1. Actual Dividend is Rs. 10,141 Crore + DDT = Rs. 12,205 crore.
2. Highest ever dividend announced by a private company.
3. From the dividend announced today, Rs. 3,000 crore would be paid to the government.
4. Since 2002 (disinvestment) Rs. 32,500 crore has been paid by HZL to the Government in terms of royalties, direct & indirect taxes, dividend distribution tax etc.
5. If included dividend tax on dividend announced today, the contribution would go up to Rs. 34,500 crore.
6. Hindustan Zinc has invested about Rs. 16,000 crore since disinvestment in 2002.
7. Expansion plans to increase the metal production from current 1 million tonne to 1.20 million tonne.
8. Exports have increased 75 times, from Rs. 51 crore in 2002 to Rs. 3,800 crore in FY 2015.
9. Total annualized shareholders return over the last 14 years is 40% since 2002)

Dividend will entail an outflow of approximately Rs. 12,205 crore, including dividend distribution tax.
Special Golden Jubilee dividend of 1200% i.e. Rs. 24 on an equity share of Rs. 2 each.

In its meeting held today to consider a second interim dividend, the Board of Directors has declared a special Golden Jubilee dividend of 1200% i.e. Rs. 24 on an equity share of Rs. 2 each. The record date for the dividends will be April 7, 2016. This dividend will entail an outflow of approximately Rs. 12,205 crore, including dividend distribution tax. The special dividend is in addition to the first interim dividend paid (Rs. 3.80 per share or 190%) in October 2015 of Rs.1,932 crore, including dividend distribution tax.

Agnivesh Agarwal, Chairman, said, “Hindustan Zinc has continued to deliver robust performance over the years, and during our Golden Jubilee year, we are pleased to reward our shareholders with a special Golden Jubilee dividend of Rs. 12,205 crore, including dividend distribution tax. We will continue to demonstrate our commitment towards delivering value for our shareholders.”

Sunil Duggal, Chief Executive Officer commented, “This is the highest ever dividend declared by the Company. Since the Government of India divested a stake in the Company in 2002, the cumulative dividend paid by the Company has been Rs. 22,566 crore including dividend distribution tax”.

About the Author

-