Hindustan Zinc Limited pays dividend of Rs. 187.19 crore
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Hindustan Zinc Limited pays dividend of Rs. 187.19 crore

New Delhi : India | Nov 02, 2011 at 8:51 AM PDT
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The cheque of final dividend for financial year 2011-12 amounting to Rs. 187.19 crore was handed over to ShriDinsha J. Patel, Union Minister of Mines, by COO of Hindustan Zinc Limited here today, in the presence of Shri S. Vijay Kumar, Secretary, Ministry of Mines, Shri S.K. Srivastava, Additional Secretary, Ministry of Mines and other senior officials of the Ministry and the company. Hindustan Zinc Limited have approved interim dividend for 2011-12 @ 75% i.e.Rs.1.50 per equity share of Rs.2/- each. This is the highest ever dividend declared by the Company.

Out of its total holding of 75.92% shares in HZL, Government of India disinvested 26% in favour of SterliteOpportunities and Ventures Ltd. (SOVL) on 28th March, 2002 and the management control of the company was also transferred to SOVL on 11th April, 2002. Government of India further offloaded 18.92% of its equity in HZL in 2003 in favourof SOVL in response to the Call Option exercised by them in terms of the Shareholders’ Agreement.

The current shareholding of the SOVL in HZL is 64.92% and that of Government of India is 29.5351%, while the remaining 5.5449% shares are held by institutional investors, private corporate bodies, Indian Public etc.

chnarendra is based in Hyderabad, Andhra Pradesh, India, and is a Reporter on Allvoices.
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