The board of Hindustan Lever Ltd has approved the payment of special dividend of Rs 1.76 per share relating to bonus debenture and recommendation of a final dividend of Rs 2.65 per share to shareholders. Total payout for final dividend would remain Rs 3 per share, including provision for distribution of tax liability. Following an amendment to tax laws, including provisions for dividend distribution tax, the board made changes in the scheme for bonus debenture and special dividend, the company informed the BSE on Friday. Accordingly, the board has declared a special dividend Rs 1.765 per share aggregating Rs 388.5 crore after accounting for dividend distribution tax of Rs 219 crore.
