 "Hindustan Zinc gains on special dividend of Rs 27.50 per share")
Hindustan Zinc was up 3% to Rs 322 on BSE in early morning trade, after the company announced a special interim dividend of Rs 13,985 crore.
“The Board of Directors has declared the 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,” Hindustan Zinc said in a release. The stock will turn ex-special dividend on March 29, 2017.
Together with dividend paid in April 2016 and interim dividend in October 2016, the dividends paid in FY17, totalling Rs 27,157 crore, are the highest ever paid in India in a financial year, it added.
At 09:16 am; the stock was up 2.7% at Rs 320 on BSE as compared to 0.23% rise in the S&P BSE Sensex. A combined 1.95 million shares changed hands on the counter on BSE and NSE so far.
In past one year, the stock has rallied 88% as compared to 15.5% rise in the benchmark index.
“The Board of Directors has declared the 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,” Hindustan Zinc said in a release. The stock will turn ex-special dividend on March 29, 2017.
Together with dividend paid in April 2016 and interim dividend in October 2016, the dividends paid in FY17, totalling Rs 27,157 crore, are the highest ever paid in India in a financial year, it added.
At 09:16 am; the stock was up 2.7% at Rs 320 on BSE as compared to 0.23% rise in the S&P BSE Sensex. A combined 1.95 million shares changed hands on the counter on BSE and NSE so far.
In past one year, the stock has rallied 88% as compared to 15.5% rise in the benchmark index.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%