Hindustan Zinc Marks Golden Jubilee Year with Rs 3,000 Crore Special Dividend

In addition to the dividend, HZL paid Rs 2,064.4 crore as dividend distribution tax to the government.

Published: 12th April 2016 03:18 AM  |   Last Updated: 12th April 2016 03:18 AM   |  A+A-

NEW DELHI: Hindustan Zinc Ltd (HZL) on Monday paid the government Rs 2,995.1 crore in special dividend.

The dividend was paid by HZL to the Government which holds a residual stake of 29.54% in HZL (which was a central public sector enterprise).

In addition to the dividend, HZL paid Rs 2,064.4 crore as dividend distribution tax to the government.

The cheque was presented to Finance Minister Arun Jaitley  in the presence of Narendra Singh Tomar, Minister of Steel and Mines.  Sunil Duggal CEO HZL presented the cheque to Jaitley.

“At the golden jubilee year of the company, we are proud to say that Hindustan Zinc has created enormous value for its shareholders and public at large since its acquisition by Vedanta in 2002 and today, it is one of the largest zinc producing companies in the world,” Agnivesh Agarwal, Chairman, Hindustan Zinc said at the event.

Those present at the event included Secretary (Revenue) Hasmukh Adhia, Secretary (Mines) Balvinder Kumar, Tom Albanese, Group CEO, Vedanta and other senior officials of Ministries of Finance and Mines were also present on the occasion.

HZL had on March 30 declared a "special golden jubilee dividend" at the rate of 1,200 per cent — Rs 24 per equity share of Rs 2 each for 2015-16.

Breakup of  Dividend & DDT

Dividend to Government of India  Rs 2,995.1 cr (against its 29.54% stake)

Dividend Distribution Tax to GoI Rs 2,064.4 cr

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