MUMBAI, March 22, 2017 /PRNewswire/ --
- Hindustan Zinc announces a special interim dividend of Rs.
13,985 Crore
- Together with Golden Jubilee dividend paid in April 2016 and interim dividend in October 2016, the dividends paid in FY 16-17 are
the highest ever paid in India in
a financial year.
In its meeting held today to consider a second interim dividend,
the Board of Directors has declared a special one-time interim
dividend of 1375% i.e. Rs. 27.50 on every equity share of Rs. 2,
entailing an outflow of Rs. 13,985
Crore including dividend distribution tax (DDT). The record
date for the dividend will be March 30,
2017.
Together with the Golden Jubilee dividend 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
the largest dividend outflow by any company in India in a single financial year. Of this, Rs.
11,259 Crore will go to the
Government.
Agnivesh Agarwal, Chairman, 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. Since disinvestment by the Government in 2002, the
cumulative dividends paid by the Company, including the current
special dividend, is Rs. 37,517 Crore
including dividend distribution tax."
For further information, please contact:
Media enquiries
Pavan Kaushik
Corporate
Communications
pavan.kaushik@vedanta.co.in
Tel:
+91-99288 44499
Investor Relations
Ekta Singh
Investor Relations
hzl.ir@vedanta.co.in
Tel:
+91-294-26-52-628
About Hindustan Zinc
Hindustan Zinc (NSE & BSE: HINDZINC) is the one of the
largest integrated producers of zinc-lead with a capacity of 1.0
million MT per annum and a leading producer of silver. The
Company is headquartered in Udaipur, Rajasthan in India and has zinc-lead mines at Rampura
Agucha, Sindesar Khurd, Rajpura Dariba, Zawar and Kayad; primary
smelter operations at Chanderiya, Dariba and Debari, all in the
state of Rajasthan; and finished product facilities in the state of
Uttarakhand.
Hindustan Zinc has a world-class resource base with total
reserve & resource of 389.9 million MT and average zinc-lead
reserve grade of 11.7%. The Company has a track record of
consistently growing its R&R base since 2003 and currently has
a mine life of over 25 years.
The Company is self-sufficient in power with an installed base
of 474 MW coal-based captive power plants. Additionally, it has
green power capacity of 309 MW including 274 MW of wind power and
35 MW of waste heat power. The Company has an operating workforce
of over 17,000 including contract workforce.
Hindustan Zinc is a subsidiary of the BSE and NSE listed Vedanta
Limited (formerly known as Sesa Sterlite Limited; ADRs listed on
the NYSE), a part of London listed
Vedanta Resources plc, a global diversified natural resources
company.
Disclaimer
This press release contains "forward-looking statements" – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different than those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
For further information, please contact:
Communications
Roma
Balwani
President – Group Communications, Sustainability &
CSR
Tel: +91-22-6646-1000
gc@vedanta.co.in
Investor Relations
Ashwin
Bajaj
Director – Investor
Relations
Tel:
+91-22-6646-1531
vedantaltd.ir@vedanta.co.in
Aarti Raghavan
VP– Investor Relations
Vishesh Pachnanda
Manager – Investor Relations
Sneha Tulsyan
Associate Manager – Investor Relations
About Vedanta Limited (Formerly SesaSterlite Ltd.)
Vedanta Limited is a diversified natural resources company,
whose business primarily involves producing oil & gas, zinc -
lead - silver, copper, iron ore, aluminium and commercial power.
The company has a presence across India, South
Africa, Namibia,
Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources
Plc, a London-listed company.
Governance and Sustainable Development are at the core of Vedanta's
strategy, with a strong focus on health, safety and environment and
on enhancing the lives of local communities. The company is
conferred with the Confederation of Indian Industry (CII)
'Sustainable Plus Platinum label', ranking among the top 10 most
sustainable companies in India. To
access the Vedanta Sustainable Development Report 2016, please
visit
http://sustainabledevelopment.vedantaresources.com/content/dam/vedanta/corporate/documents/Otherdocuments/SDreport2015-16/Vedanta%20SDR%20FY%2015-16.pdf
Vedanta Limited is listed on the Bombay Stock Exchange and the
National Stock Exchange in India
and has ADRs listed on the New York Stock Exchange.
For more information please visit www.vedantalimited.com
Vedanta Limited
(Formerly known as SesaSterlite
Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400
099
www.vedantalimited.com
Registered Office:
SesaGhor, 20 EDC Complex,
Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044
Disclaimer
This press release contains "forward-looking statements" – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements