Hindustan Zinc gains on special dividend of Rs 27.50 per share

The stock was up 3% to Rs 322 on BSE in early morning trade.

Hindustan Zinc was up 3% to Rs 322 on BSE in early morning trade, after the company announced a special interim dividend of Rs 13,985 crore.

“The Board of Directors has declared the 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,” Hindustan Zinc said in a release. The stock will turn ex-special dividend on March 29, 2017.

Together with dividend paid in April 2016 and interim dividend