India Inc’s dividend pay-out falls 2.6% in ‘08-09
The companies were selected randomly with the only condition being that they paid dividend in 2008-09. Kishor P Ostwal, CMD, CNI Research, said, “The year 2008-09 was the most difficult and challenging year for corporate India simply because the shock of global melt down came at a wrong time. There was huge price correction in commodities that has affected each and every business due to huge inventory losses coupled with currency losses. The recession has shaken the entire corporate world and cash flows have been very badly affected. Only PSUs and a few large cap companies maintained dividend stream. Mid cap was largely affected and due to stretched cash flows they had no alternative than to reduce the dividend.”
With regards to ‘rate of dividend’ that is calculated on the face value of the share, Colgate Palmolive topped the list of top five companies with 1500%, followed by TCS (1400%), EID Parry (1000%), Hero Honda Motor (1000%) and Astrazeneca Pharma (750%). Among the
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