Hindustan Zinc to pay Rs13,985-cr interim, take FY17 dividend to record Rs27,157 cr
22 Mar 2017
Hindustan Zinc today announced a one-time interim dividend of Rs13,985 crore for the financial year 2016-17, taking the total payout for the current financial year to Rs27,157 crore - the highest ever dividend paid by an Indian company in a financial year.
The board of directors has declared a special one-time interim dividend of 1,375 per cent, or Rs27.50 on every equity share of Rs2, entailing an outflow of Rs13,985 crore, including dividend distribution tax (DDT), The company stated in a release.
The company also announces 30 March 2017 as the record date for payment of the dividend.
Together with dividend paid in April 2016 and interim dividend in October 2016, the payout in FY17 totaling Rs27,157 crore is the highest ever in India in a financial year, the company said in a release.
''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,'' Agnivesh Agarwal, chairman, Hindustan Zinc, said.
The company had, in March 2016, declared a special golden jubilee dividend of 1,200 per cent, amounting to Rs24 on equity shares of Rs2 each.
Hindustan Zinc is the one of the largest integrated producers of zinc-lead with a capacity of 1 million tonnes per annum and is a leading producer of silver.