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  • Adoption of Dividend Distribution Policy (Company Update)

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    Shyam Sunder
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    Adoption of Dividend Distribution Policy [Company Update]

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    © All Rights Reserved
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    8 visualizzazioni3 pagine

    Adoption of Dividend Distribution Policy (Company Update)

    Caricato da

    Shyam Sunder

    Copyright:

    © All Rights Reserved
    Scarica in formato PDF o leggi online su Scribd
    Segnala contenuti inappropriati
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    BALRAMPUR CHINI MILLS LIMITED eC pione anaes Pa: 0) sen aka aebeaTd GRAIL BALSUCS, CALSUTTAN ei Bangin © hese eben hpi com GR -LSSASWBIOTOM.COINS Febreary 15,2017 National Stock Exchange of | BSE Limited The Caleutia— Stook India Limited (Corporate Relationship Department | Exchange Limited Listing Dept, Exchange Plaza, | Ist Floor, Now Trading Wing, | 7, Lyons Range, SthFloor, Plot No. C1," | Rotunda Building, Kolkata 700.601 Block, DhirozeJeeeethoy Towers Bandra Kurla Complex, Bandes | Dalal Stet, For, Mumbai- 400001 (E) Masai 400051 - Scrip Code: BALRAMCHIN — | Serip Code SUO0TE Sexip Coder 012 Dear Sif Madam, ‘Sub: Adoption of Dividend Distribution Policy ‘We wish to inform you tht in furtherance to SEBIs requirement fe th to 500 Listed Companis (by vay of market capitalization) to formulate and disclose thei Divieend Distibuion Policy, the Board De Directors of Balrmpur Cini Mills Limited has adopted the Dividend Distribution Poe. “The approved Dividend Distibuton Policy is enclosed herewith for reference Iti also being made svailable on the Company's website wwrw.chinLcom, Thanking you, Yours faithfully, For Balrampur Chini Mills Limited Bags Nitin Bagaria Company Secretary BALRAMPUR CHINUMILLS LIMITED DIVIDEND DISTRIBUTION POLICY. 4 Background Securities and Exchange Beard of India (SEBI) has notified the SEBI (Listing Obligations and Disclosure ‘Reguiements) (Second Amendment) Repulaios, 2016 which came into force wa. Jul 8, 2016, Pursuant ‘Roguation 434 ofthe sad Regulations, top 500 listed enites based on market aptalization (calculated son “March 31 of every financial year) shoud havea Dividend Distribution Pole. “Therefore, the Board of Directors of Balampur Chini Mils Limited tas sdoped this Dividend Disibution Policy ofthe Company as per te aforesaid requirement. 2, Eietve Date “This Policy becomes effete fom the date fis option bythe Board Saude, th February, 217. ‘3 Dafntns& Inisrrstasions Unless repugnant the conten: (®) ‘Act shall moan the Companies Act, 2013 28 amended fiom time to tie and shall inlude Rules, -Regultions and Secretarial Sanders made thereunder or pursuant there. (0) “Board aa mean the Board of Directors ofthe Company, as consid from tet (©) ‘Company’ shall mean Balrampar Chini Mills Limited (©) “Policy” shall mean this Dividend Distribution Policy as per the SEBI (Listing, Obligations and Disclosure Requirements) (Second Amendment) Regulations 2016 (©) ‘Listing Regulations shall mean SEBI(Lising Obligations & Disclosure Requirements) Regulation, 2015 samended). ‘All words and expressions used but not defined in this Polly, but defined in the Ast or the Listing Regulation shal ave the same meaning at respectively assigned fo ham in such Actor Regulations, asthe ‘ese maybe Words imgontng the singular number shall include the plural number and words importing the maseaine gender sal, where the context adits, include the feminine and acter gender. 4 Objective ‘The Company shall srive to drive growth and thereby maximise shareholder value. The objet of this Paicy {sto strike a talance beween dividend payost and the need to retain carmings fr future grow. This Policy broadly spesifes the extemal and ateral Ector tht shal be considered while doslarng dividend. ‘S. General policy ofthe Company as regards Dividend ‘The general considerations ofthe Company for taking decisions with ean to dividend payout or retention of ris hall be as following: {@) Suhjes tothe other considerations as provided inthe Policy, the Board shall determine the dividend payout ne pariclar year afer aking ino consideration the operating and finaneal performance of ‘he Company, th advice of executive management and other relevant factor. (8) The Board may also, where appropri, aim a cstibuting dividends inform of fully r partly paid Shares or ther secures, subject appiable aw. 6 Parameters “Te Boar shal consider the following parameters ‘Shareholders may expect Dividend when the Company is having edequatesupls funds after providing all expenses, depreciation, et, and complying all other statutory quirement ofthe Ac. ‘Shareholders may nt expest Dividend: When te Sugar Indusry Scenario is unceran, even if the Company has earned profits inthe year. (Gi). Whe there ae rgulatory restriction. i) Whenever its proposed to ils the supa cash for buy back of secur. (©) Financial parametersteral fats: In addition tothe aforesid parameters, the decision of dividend payout or tetention of profits sal alo be ‘based onthe following (Operating Cash Flows. }) Longterm strategie plans (Gi) Debt repayment schedules and convactua constants suchas dividend restictions in deb contracts and the current degree of financial leverage. (Gv) Suchther eres as doomed iby the Road. () Extera factors “The various legal rules and consrints such as paying dividends that would impair capital and policy

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