Hindustan Zinc announces Special Dividend of Rs. 13,985 Crore
Mumbai: In its meeting held today to consider a second interim dividend, the Board of Directors has declared a special one-time interim dividend of 1375% i.e. Rs. 27.50 on every equity share of Rs. 2, entailing an outflow of Rs. 13,985 Crore including dividend distribution tax (DDT). The record date for the dividend will be March 30, 2017.
Together with the Golden Jubilee dividend paid in April 2016 and the interim dividend paid in October 2016, the aggregate dividend being paid by Hindustan Zinc during this financial year will be Rs. 27,157 Crore including DDT, which is the largest dividend outflow by any company in India in a single financial year. Of this, Rs. 11,259 Crore will go to the Government.
Agnivesh Agarwal, Chairman, said, “We are pleased to reward our shareholders with a special dividend, which reflects the Company’s confidence in its continued robust performance and demonstrates our commitment towards delivering value for our shareholders. Since disinvestment by the Government in 2002, the cumulative dividends paid by the Company, including the current special dividend, is Rs. 37,517 Crore including dividend distribution tax.”
- Highest Dividend By Hindustan Zinc Ltd. (HZL):
|Total to GOI
- Rs. 34,268 Cr paid to GoI since disinvestment:
(a) Dividend (including DDT) – Rs 15,419 Cr
(b) Corporate tax – Rs 18,848 Cr
Total – Rs 34,268 Cr
- GoI residual stake in HZL is currently valued at Rs. 38,500 Cr.