The generous dividend payouts of Hindustan Zinc (HZL) will benefit its promoter Vedanta too. HZL on Wednesday announced a special dividend of ₹27.50 on shares of face value ₹2 each, taking the outgo to ₹13,985 crore for 2016-17. The record date for the dividend will be March 30.
With Vedanta holding 271.34 crore or 64.92 per cent stake in HZL, it will receive close to ₹7,500 crore. The Centre holds 29.54 per cent stake (124.79 crore shares) in HZL.