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Sebi makes it mandatory for top 500 companies to formulate a dividend distribution policy
May 20,2016

Stock market regulator Securities and Exchange Board of India (Sebi) has made it mandatory for the top 500 listed companies in terms of market capitalization to formulate and disclose a dividend distribution policy in annual reports and on their websites. The dividend distribution policy will include the circumstances under which shareholders can or cannot expect dividend, the financial parameters that will be considered while declaring dividends, internal and external factors that would be considered for declaration of dividend, policy as to how the retained earnings will be utilized and provisions in regard to various classes of shares.

When a company proposes to declare dividend on the basis of parameters other than what is mentioned in the dividend distribution policy or proposes to change its dividend distribution policy, it will have to make appropriate disclosures. According to Sebi, a formal dividend distribution policy will help investors in taking an informed investment decision.

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Sebi tightens norms on offshore derivative instruments
May 20,2016

Stock market regulator Securities and Exchange Board of India (Sebi) has tightened norms for issuers and subscribers of offshore derivative instruments (ODIs) or participatory notes (P-notes) for the purpose of enhancing the transparency and control over the issuance of ODIs. In order to bring about uniformity in the know-your client (KYC) and anti-money laundering (AML) norms, it has been decided that Indian KYC/AML norms will now be applicable to all ODI issuers. The KYC/AML norms applicable to ODI issuers will be the same as that for all other domestic investors.

Sebi also said that ODI issuers would have to identify and verify the beneficial owners in the subscriber entities, who hold in excess of the threshold that is 25% in case of a company and 15% in case of partnership firms/trusts/unincorporated bodies. The ODI issuers will have to identify and verify the persons who control the operations of these entities, Sebi said in a press release issued yesterday, 19 May 2016, after the conclusion of a meeting of the Sebi board in Mumbai. P-notes are derivative instruments issued by registered foreign portfolio investors (FPIs) to overseas investors to enable them to trade in Indian stocks without having to register with Sebi.

The ODI subscribers will have to seek prior permission of the original ODI issuer for transfer of ODIs. As per prevailing regulations, ODI subscribers are not required to take prior permission of the ODI issuer for transfer of ODIs to another investor offshore. The ODI issuers will have to capture the details of all intermediate transfers during the month and report the same to Sebi in the prescribed monthly report. Presently, ODIs issuers submit the details of the holder of ODIs in a monthly report to Sebi. The regulator also said that ODI issuers would have to file suspicious transaction reports with the Indian Financial Intelligence Unit on the ODIs issued by them. Besides, the ODI issuers will have to carry out reconfirmation of the ODI positions on a semi-annual basis.

According to Sebi data, the notional value of ODIs to the AUC (assets under custody) of FPIs has declined over the years from a high of 55.7% in June 2007 to 10% in March 2016.

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Nicco Parks & Resorts to pay dividend for FY 2016
May 18,2016

Nicco Parks & Resorts announced that final dividend of Re 0.15 per share for FY 2016 will be paid within 09 September 2016.

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GlaxoSmithkline Consumer Healthcare to pay dividend
May 17,2016

GlaxoSmithkline Consumer Healthcare announced that dividend of Rs 70 per share of Rs 10 each shall be paid on or before 04 September 2016.

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National Buildings Construction Corporation fixes record date for stock split
May 17,2016

National Buildings Construction Corporation ration has fixed 03 June 2016 as the Record Date for the purpose of split of 1 equity share of Rs. 10/- each into 5 equity share of Rs. 2/- each.

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Voltas to pay dividend for FY 2015-16
May 17,2016

Voltas announced that dividend of Rs 2.60 per share for FY 2015-16 will be paid on or after 02 September 2016, subject to approval of shareholders at the AGM.

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Honeywell Automation India to pay final dividend
May 17,2016

Honeywell Automation India announced that final dividend of Rs 10 per equity share of Rs 10 each, if approved by shareholders in the AGM, will be paid on 19 August 2016.

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Honeywell Automation India fixes record date for dividend
May 17,2016

Honeywell Automation India has fixed Record Date as 03 August 2016 for the purpose of payment of dividend.

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Vidli Restaurants fixes record date for dividend
May 17,2016

Vidli Restaurants has fixed 18 June 2016 as the Record Date for the purpose of Payment of Dividend & 9th Annual General Meeting (AGM) of the Company to be held on 25 June 2016.

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Excel Crop Care to pay dividend
May 17,2016

Excel Crop Care announced that dividend of Rs 12.50 per equity share will be paid on or after 01 August 2016, subject to approval of members.

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FPIs make heavy purchases from secondary equity markets
May 16,2016

Foreign portfolio investors (FPIs) made heavy purchases of Indian stocks on Friday, 13 May 2016, as per the data released by the depositories. FPIs bought stocks worth a net Rs 1602.36 crore on 13 May 2016, which was sharply higher than their purchases of Rs 51.34 crore during the preceding trading session on 12 May 2016. The net inflow of Rs 1602.36 crore into the secondary equity markets on 13 May 2016 was a result of gross purchases of Rs 5595.78 crore and gross sales of Rs 3993.42 crore. On the day, the S&P BSE Sensex shed 300.65 points or 1.17% to settle at 25,489.57, its lowest closing level since 6 May 2016.

There was a net outflow of Rs 0.85 crore from FPIs from the category primary markets & others on 13 May 2016, which was a result of gross purchases of Rs 0.15 crore and gross sales of Rs 1 crore.

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Sona Koyo Steering Systems to pay dividend
May 13,2016

Sona Koyo Steering Systems announced that dividend on Equity Shares, if declared, at the forthcoming Annual General Meeting scheduled to be held on 05 August 2016, will be dispatched to the shareholders of the Company between 12 August 2016 to 17 August 2016.

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Dr Reddys Laboratories to pay final dividend for FY 2015-16
May 12,2016

Dr Reddys Laboratories announced that final dividend on equity shares of Rs 20 per share for FY 2015-16, if declared, will be paid on or after 01 August 2016.

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Nestle India to pay interim dividend for 2016
May 12,2016

Nestle India announced that interim dividend of Rs 12 per share for year 2016 will be paid on and from 31 May 2016

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Page Industries fixes record date for 1st interim dividend
May 12,2016

Page Industries has fixed 01 June 2016 as the Record Date for the purpose of 1st Interim Dividend, if declared.

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