Hindustan Zinc shares up over 3 pc on dividend payout

Shares of Hindustan Zinc (HZL) today rose by over 3 per cent after the company announced a special dividend of Rs 13,985 crore for 2016-17, taking the aggregate amount paid by it for the fiscal to Rs 27,157 crore.
After a positive opening, shares of the company further jumped 3.31 per cent to Rs 322.10 on BSE.
On NSE, shares of the company rose by 3.25 per cent to Rs 322.
HZL yesterday announced a special dividend of Rs 13,985 crore for 2016-17, taking the aggregate amount paid by it for the fiscal to Rs 27,157 crore, the largest such payout by any company in the country.

"Together with the golden jubilee dividend paid in April last year and the interim dividend 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," the company said in a statement.
DDT is dividend distribution tax.
Of Rs 27,157 crore, Rs 11,259 crore will go to the government, the company 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," HZL Chairman Agnivesh Agarwal said.