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Finance Ministry revises norms for dividend payments, share buybacks, stock splits for PSUs | Company Business News

Livemint

Livemint · 8m ago

Finance Ministry revises norms for dividend payments, share buybacks, stock splits for PSUs | Company Business News

The Indian Finance Ministry has introduced new norms for dividend payments, share buybacks, and stock splits at state-run companies. State-run non-banking financial companies (NBFCs) are now required to pay a minimum annual dividend of 30% of their profit. Public sector units (PSUs) must also pay a dividend of 30% of profit or 4% of net worth, whichever is higher. The guidelines also allow companies meeting certain criteria to consider share buybacks and mandate the issue of bonus shares if reserves are 20 times the share capital. Additionally, stock splits are encouraged for companies with share prices exceeding 150 times its face value.

Related News

Mint Explainer: The budget, buybacks, and Esop taxation

Livemint

Livemint · 1y ago

Mint Explainer: The budget, buybacks, and Esop taxation

The government has proposed changes to the taxation of share buybacks in India, which will impact investors and employees, including those holding employee stock options (ESOPs). Under the budget proposal, investors would be taxed on share buybacks as dividend income, with the tax rate determined by their income slab. Additionally, employees may face higher taxes if a company buys back shares under section 68 of the Companies Act. Startups often undertake buybacks through incoming investors, and these will continue to be taxed as capital gains. The proposed changes aim to remove the current tax advantage associated with share buybacks.

Wall Street seems worried about Apple — and divided over its stock

Business Insider

Business Insider · 1y ago

Wall Street seems worried about Apple — and divided over its stock

Apple's decision to lay off more than 600 employees in California reflects the company's challenges and its impact on stock prices. The company is reportedly pulling back from its electric vehicle and Apple Watch display projects while exploring the development of robots for household tasks. Analysts are divided over Apple's outlook, with some suggesting that investing in robots would be a costly distraction. Concerns about the company's loss of focus and its falling stock price have emerged. However, Apple remains a mainstay in many stock portfolios due to factors like dividend payouts and share buybacks. Analysts still view Apple as a world-class business navigating a tough period.

Freshworks Revises CEO Mathrubootham’s Stock Awards

Inc42 · 1y ago

Freshworks Revises CEO Mathrubootham’s Stock Awards

Freshworks has revised the stock-based compensation for its CEO Girish Mathrubootham and other top executives due to macroeconomic conditions. Mathrubootham's multi-year performance-based restricted stock unit award has been canceled, and he has been granted an annual long-term equity incentive award valued at $19 million. The value of the stock award has changed over the years, with Freshworks' share price experiencing fluctuations. The decision to revise the stock awards was made to align business objectives with shareholder value creation.

Stocks in news: Adani Enterprises, Sun Pharma, Vedanta, Nazara Tech, NTPC

Economic Times

Economic Times · 1m ago

Stocks in news: Adani Enterprises, Sun Pharma, Vedanta, Nazara Tech, NTPC

The article discusses various stock-related news and market movements. Birla Corporation emerges as the top bidder for a limestone block in Rajasthan, while markets face pressure from geopolitical tensions. Adani Enterprises refutes reports of damage in Israel, Bajaj Finance announces stock changes, Sun Pharma faces FDA observations, and Vedanta plans for an interim dividend. Additionally, Rekha Jhunjhunwala cuts her stake in Nazara Technologies, and Syngene receives FDA recognition for its facilities.

RELX sees AI driving another year of strong growth

Reuters · 1y ago

RELX sees AI driving another year of strong growth

RELX, the information and analytics group, expects strong performance in 2024 driven by demand for its new generative AI products. In 2023, the company reported a 13% increase in adjusted operating profit to £3.03 billion ($3.8 billion) and an 8% increase in revenue to £9.16 billion. Earnings per share rose 11% to 114.0 pence, beating market forecasts. RELX also increased its full-year dividend by 8% and plans to spend £1 billion on share buybacks. Shares in RELX rose 1.5% in response to the positive results.

Hindalco Industries to consider dividend for FY25. Details here

Business Today

Business Today · 4m ago

Hindalco Industries to consider dividend for FY25. Details here

Hindalco Industries is considering a dividend for FY25, with its stock recently trading 1.53% lower at Rs 682.85, yet up 11.81% in 2025. Previously, a dividend of Rs 3.50 per share was announced. As of December 2024, the promoter stake stood at 34.64%. Hindalco serves as the metals flagship entity of the Aditya Birla Group.

Truecaller spends $140 mn on dividends, buybacks amid share slump

The Arc Web

The Arc Web · 1y ago

Truecaller spends $140 mn on dividends, buybacks amid share slump

Caller ID app Truecaller has spent $141 million on dividends and share buybacks over the past 18 months during a period of business slowdown. The company recently announced a special dividend of $54.4 million (SEK 590 million) for its shareholders, along with plans to give 25% of its profit after tax as dividends each year. Additionally, Truecaller has completed a share buyback, spending $86.5 million (SEK 940 million) to cancel a 7.5% stake. Despite the positive news, Truecaller's market capitalisation has dropped to $1 billion, and its shares are currently 35% lower than the IPO price in 2021.

Google parent announces first-ever dividend; beats on sales, profit; shares soar

Economic Times

Economic Times · 1y ago

Google parent announces first-ever dividend; beats on sales, profit; shares soar

Alphabet, the parent company of Google, announced its first-ever dividend and a $70 billion stock buyback, resulting in a surge in stock price by nearly 16%. The company plans to return capital to investors while investing heavily in data centers and artificial intelligence. The dividend will be 20 cents per share. This move follows similar announcements by competitors such as Meta, formerly known as Facebook. Alphabet reported better-than-expected sales, profit, and advertising metrics for the quarter, increasing its stock market value by over $300 billion to exceed $2 trillion.

Aviva Plc to buy back shares worth £300 million

Livemint

Livemint · 1y ago

Aviva Plc to buy back shares worth £300 million

British insurance and asset management company Aviva Plc plans to buy back shares worth £300 million after reporting growth in sales and operating profit. The company's operating profit increased 9% to £1.467 billion in 2023, with a final dividend of 22.3 pence per share declared. Aviva has returned over £9 billion to shareholders in the past three years through buybacks and dividends. The company also recently acquired insurance platform Probitas for £242 million, marking its return to Lloyd's of London market after two decades.

LIC presents dividend cheque of ₹1,831 crore to FM Nirmala Sitharaman

Livemint

Livemint · 1y ago

LIC presents dividend cheque of ₹1,831 crore to FM Nirmala Sitharaman

Life Insurance Corporation of India (LIC) has presented a dividend cheque of ₹1,831.09 crore to Finance Minister Nirmala Sitharaman. LIC Chairman Siddhartha Mohanty presented the cheque as the government's share of the dividend. The dividend was approved by the shareholders in the annual general meeting held on August 22. LIC, which has been in operation for 67 years, has an asset base of ₹45.50 lakh crore and a life fund of ₹40.81 lakh crore as of March 31, 2023. Despite two decades of competition in the insurance sector, LIC remains the market leader in India.

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