Dividend Policy at Hindustan Zinc Limited

HZL was incorporated as a Public Sector Undertaking under the Metal Corporation of India Acquisition Act, 1966, with a majority of stake held by the Government of India (GoI). It was involved in the business of mining and the production of zinc, lead, silver, and cadmium. Until the year 2002, the majority stake was in the hands of the GoI. However, after the announcement of the disinvestment policy by the GoI in the year 2002, the Sterlite Opportunities and Ventures Limited (SOVL), a subsidiary of Vedanta Limited , acquired a stake of 26% and management control from the GoI through an open offer and acquired another 20% stake from the public as per the Securities Exchange Board of India (SEBI) regulations 1997....