Hindustan Unilever Declares a 'Special Dividend'
Special dividend of Rs. 8 per share in addition to interim dividend of Rs 4.5 per share.
The Board of Directors of Hindustan Unilever Limited today declared a Special Dividend of Rs 8 per share (Face Value of Re. 1 each) to be paid to its shareholders on record date as of 2-Nov-2012. The dividend will be paid to shareholders on or after 16-Nov-2012. The payment of Special Dividend will be made in addition to the Interim Dividend of Rs 4.5 per share for the year ending 31stMarch 2013, declared by the Board at the same meeting.
The payout for the Special Dividend will be made out of the accumulated Profit & Loss Account balance and the exceptional income generated primarily through the sale of properties in the first half of FY 2012-13 and will be funded from the cash balances of the company.
The last time that the company announced a Special Dividend was 5 years ago in October 2007, when a Special Platinum Jubilee Dividend of Rs 3 per share was paid out to commemorate 75 years of HUL’s existence in India.
Harish Manwani, Chairman commented: “HUL has a robust Balance Sheet and a track record of strong profit and cash generation. The payment of the Special Dividend provides a cash return to our shareholders from accumulated profits built up from the company’s consistent performance over the last few years and the exceptional income generated from the sale of properties in the first half of this year.”