FMCG major Hindustan Unilever Ltd (HUL) will loosen its purse strings by Rs 2,084 crore for paying dividend to shareholders as well as the dividend distribution tax in the current fiscal.
The board of the consumer goods maker has declared an interim dividend of Rs 8 per share of face value Re 1 each for the year ending March 2018.
The dividend amounting to Rs 1,732 crore will cover about 216 crore shares, Hindustan Unilever said in an investor presentation.
Besides, there is a Rs 352 crore dividend distribution tax which will be borne by the company.
Last fiscal, the company had paid dividends amounting to Rs 1,515 crore for similar number of shares, down 14.32 per cent. The dividend distribution tax was Rs 308 crore last year.
"The company's Dividend Distribution Policy shall ensure that it returns cash from operations that is in excess of its immediate and foreseeable needs back to the shareholders over the long term," an HUL spokesperson told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.