Business
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.
Updated : Mar 24, 2018, 03:27 AM IST
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.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)