Around 30 per cent or Rs 2,400 crore may go to the Centre contributing to its non-tax revenues for the fiscal, reported PTI.
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New Delhi: Vedanta group firm Hindustan Zinc Ltd (HZL) plans to dole out a special dividend payout of Rs 8,000 crore to its shareholders in the current fiscal, news Agency PTI has reported. This special dividend will be over and above the regular dividend of around Rs 6,000 crore, which HZL doles out every year, said the news Agency.
Apart from the government, this will also benefit promoter Vedanta Ltd, which holds around 65 per cent stake in HZL, and will receive around Rs 5,100 crore, which it may use to further de-leverage its balance sheet.
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Hindustan Zinc Shareholders Meet On August 20
Hindustan Zinc has informed regulators that the Company shareholder’s meet is scheduled for August 20.
“Pursuant to Regulation 29 of SEBI Listing Regulations, we wish to inform you that the meeting of the Board of Directors of the Company is proposed to be scheduled on Tuesday, August 20, 2024, to consider and approve the Second Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” Hindustan Zinc said in a regulatory filing.
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Hindustan Zinc Special Dividend Record Date
The company has said that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Wednesday, August 28, 2024.
“Further, pursuant to the provisions of the Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Code of the Company, it is to inform you that the trading window will remain closed for all the Designated Persons from today, i.e., Wednesday, August 14, 2024 till Thursday, August 22, 2024 (Both days inclusive),” Hindustan Zinc said.
