Hindustan Zinc rallies 3% on massive Rs 13,985 crore dividend
NEW DELHI: Shares of Anil Agarwal-led Hindustan Zinc jumped over 3 per cent in Thursday’s trade after the company announced a massive Rs 13,985 crore special one-time dividend dividend (including dividend distribution tax).
The Hindustan Zinc board has declared a special one-time interim dividend of Rs. 27.50 on equity share of Rs 2 each. Combined with the special golden jubilee dividend of 1,200 per cent 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 perhaps among the largest dividend outflows by any company in India in a single financial year, ET said in a note.
The dividend payout declared on Wednesday includes Rs 11,620 crore as dividend and Rs 2,365 crore as dividend tax. The government of India will get Rs 5798 crore. Out of this, Rs 3,433 crore is the dividend while the rest is the dividend tax. Anil Agarwal, will get Rs 7,553 crore for his share of 65 per cent in HZL.
Following the announcement, the stock climbed 3.31 per cent to hit a high of Rs 322.10 on BSE.
The Hindustan Zinc board has declared a special one-time interim dividend of Rs. 27.50 on equity share of Rs 2 each. Combined with the special golden jubilee dividend of 1,200 per cent 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 perhaps among the largest dividend outflows by any company in India in a single financial year, ET said in a note.
The dividend payout declared on Wednesday includes Rs 11,620 crore as dividend and Rs 2,365 crore as dividend tax. The government of India will get Rs 5798 crore. Out of this, Rs 3,433 crore is the dividend while the rest is the dividend tax. Anil Agarwal, will get Rs 7,553 crore for his share of 65 per cent in HZL.
Following the announcement, the stock climbed 3.31 per cent to hit a high of Rs 322.10 on BSE.
