Hindustan Zinc announces Rs 13,985 cr interim dividend

Hindustan Zinc, a subsidiary of Vedanta Limited, on Wednesday announced a one-time interim dividend of Rs 13,985 crore for the financial year 2016-17.

"In its meeting held today (Wednesday) to consider a second interim dividend, the Board of Directors has declared a special one-time interim dividend of 1375 per cent 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 company said in a statement.

The record date for the dividend is fixed on March 30.

The company had paid golden jubilee dividend in April 2016 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. Of this, Rs 11,259 crore will go to the government," the company said.

"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," said company Chairman Agnivesh Agarwal.

--IANS

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