MUMBAI: The 55 per cent proposed dividend that is slated for approval at Zee's forthcoming AGM on 26 September 2003 would make Zee shareholders richer by a neat Rs 5.50 on every share owned.
For the company, the total amount of dividend outgo, inclusive of dividend tax, has been pegged at Rs 256 million. In the previous fiscal, Zee had given out Rs 227 million as dividend.
The media hotshot is also planning to start uplinking Zee TV and Zee Cinema from India and has already obtained necessary permission for that from the government.
In the last quarter of the previous fiscal, Zee had commenced uplinking of Zee News and Zee music channels from India in addition to its four Alpha regional channels - a move, which helped the company streamline its outflow of foreign exchange from India.
On the bourses today, the media hotshot remained subdued on selling pressure. Trading over 21 lakh shares, the counter slipped 3.13 per cent to close at Rs 108.35.