VEDANTA RESOURCES HZL's Special Golden Jubilee dividend of Rs 12,205 crore (including DDT) to the shareholders is second highest ever in the country after Coal India
Left to Right - Sunil Duggal, CEO, Hindustan Zinc; Balvinder Kumar, Mines Secretary; Amitabh Gupta, CFO, Hindustan Zinc; Tarun Jain, Whole time Director, Vedanta Limited; Tom Albanese, CEO, Vedanta Group; Narendra Singh Tomar, Union Minister of Mines; Arun Jaitley, Finance Minister pose for a picture with the dividend cheque of Rs. 2,995 crore by Hindustan Zinc
Secretary (Revenue) Dr. Hasmukh Adhia, Secretary (Mines) Shri Balvinder Kumar, Mr. Tom Albanese, Group CEO, Vedanta, Mr. Tarun Jain, Group Finance Director Vedanta, Mr. Amitabh Gupta, CFO, Hindustan Zinc and other senior officials of Ministries of Finance and Mines were also present on the occasion.
Besides the dividend, Rs. 2064.4 crore is being paid as dividend distribution tax to the Government.
On March 30, the Board of Directors of HZL had declared a special Golden Jubilee dividend of 1200% i.e. Rs 24 on an equity share of Rs 2 each. This dividend will entail an outflow of approximately Rs 12,205 crore, including DDT. This is the largest
ever dividend paid by any company in the private sector in Indian history and is the second highest after Coal India.
The special dividend was in addition to the first interim dividend paid (Rs. 3.80 per share or 190%) in October 2015 of Rs 1,932 crore, including DDT.
Dividend to Government of India - Rs 2,995.1 crore (against its 29.54% stake)
Dividend Distribution Tax to GoI - Rs 2,064.4 crore
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 375.1 million MT and average zinc-lead reserve grade of 11.5%. The Company has a track record of consistently growing its reserve & resource 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 18,000 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.
About Vedanta Limited (Formerly Sesa Sterlite Limited):
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, Ireland and Liberia.
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
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 log on to www.vedantalimited.com
For further information, please contact:
Investor Relations: Ekta Singh
Associate Manager- Investor Relations Tel: +91 8003099676
hzl.ir@vedanta.co.in to:gc@vedanta.co.in>
Media Enquiries: Roma Balwani
President- Group Sustainability, CSR and Communications Tel: +91 2266461000
gc@vedanta.co.in
Pavan Kaushik
Associate Vice President- Corporate Communication Tel: +91 9928844499
Pavan.kaushik@vedanta.co.in
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 behavior 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.
Vedanta Resources plc issued this content on 11 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 April 2016 16:32:07 UTC
Original Document: http://www.vedantaresources.com/media/199870/hindustan_zinc_pays_largest_ever_dividend_by_a_private_company_april_11.pdf
