Hindustan Zinc jumps 14% after declaring highest ever dividend

Mumbai: Shares of Hindustan Zinc surged up to 14 percent today after the company announced that it will pay highest ever dividend of Rs 10,141 crore, including Rs 3,000 crore to the government, to its shareholders for the 2015-16 fiscal.

The scrip gained 14.07 percent to Rs 199.80 on BSE.

At NSE, shares of the company climbed 12.42 percent to Rs 196.80.

"The actual dividend is Rs 10,141 crore and when dividend tax is included it will go to Rs 12,205 crore.

This is the highest ever dividend announced by a private company.

From the dividend announced, Rs 3,000 crore would be paid to the government," HZL CEO Sunil Duggal 

He informed that the firm's Board has declared a special golden jubilee dividend at the rate of 1,200 percent -- Rs 24 per equity share of Rs 2 each -- for 2015-16 fiscal.