Hindustan Zinc for the financial year 2016-2017 has announced one-time interim dividend of Rs 13,985 crore, on Wednesday. The central government against its 29% stake will get Rs 11,259 crore.
The dividends being paid out by the Company are the highest ever paid in a financial year in India. With the dividends paid in October and April of 2016, the total comes to Rs 27,157 crore in FY17.
On Wednesday, the Company’s board, on every equity share of Rs 2, has approved a special one-time interim dividend of Rs 27.50 per share or 1375%, aggregating to about 13,985 crore, which includes the dividend distribution tax (DDT).
March 30, 2017 has been set as the record date by the board of directors in their meeting. Hindustan Zinc is one of the largest zinc-lead producing company with a capacity of producing one million tonne a year. Hindustan Zinc Ltd is currently trading at Rs 318.45, up by Rs 6.7 or 2.15% from its previous closing of Rs 311.75 on the BSE.
The scrip opened at Rs 320 and has touched a high and low of Rs 322.1 and Rs 316.7 respectively. So far 4451700(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 131724.32 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 333.4 on 03-Feb-2017 and a 52 week low of Rs 158.2 on 08-Apr-2016. Last one week high and low of the scrip stood at Rs 316.5 and Rs 297 respectively.
The promoters holding in the company stood at 64.92 % while Institutions and Non-Institutions held 4.28 % and 30.8 % respectively. The stock is currently trading above its 50 DMA.