valid as on 20/07/2018

Regulation 43A. Dividend Distribution Policy.
Effective date 08.07.2016

43A (1) The top five hundred listed entities based on market capitalization (calculated as on March 31 of every financial year) shall formulate a dividend distribution policy which shall be disclosed in their annual reports and on their websites.

(2)The dividend distribution policy shall include the following parameters:

(a)the circumstances under which the shareholders of the listed entities may or may not expect dividend;

(b)   the financial parameters that shall be considered while declaring dividend;

(c)   internal and external factors that shall be considered for declaration of dividend;

(d)   policy as to how the retained earnings shall be utilized; and

(e)   parameters that shall be adopted with regard to various classes of shares:

Provided that if the listed entity proposes to declare dividend on the basis of parameters in addition to clauses (a) to (e) or proposes to change such additional parameters or the dividend distribution policy contained in any of the parameters, it shall disclose such changes along with the rationale for the same in its annual report and on its website.

(3)The listed entities other than top five hundred listed entities based on market capitalization may disclose their dividend distribution policies on a voluntary basis in their annual reports and on their websites.]

{18 Inserted by SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016, w.e.f. 08.07.2016.}

Inserted by SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016, w.e.f. 08.07.2016. To view the notification,Click Here

SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016, w.e.f. 08.07.2016.


CAIRR on Google Playsecretarial automation?Subscribe to CAIRR updates!