Key Points
India's finance ministry has revised guidelines for capital restructuring by central public sector enterprises (CPSEs), aiming to enhance their value creation and shareholder returns..
Key changes include a revised minimum annual dividend requirement and increased flexibility for share buybacks, bonus share issuance, and share splits.ANI..
The finance ministry on Monday tweaked norms for capital restructuring by central public sector enterprises (CPSEs) and introduced flexibilities for them to better add to their value creation strategy...
The latest norms, however, specify that financial sector CPSEs like non-banking financial companies need to pay a minimum annual dividend of 30% of their profit after tax, subject to any limit under any extant legal provisions, according to the revised guidelines issued by the Department of Investment and Capital Asset Management (DIPAM)..
DIPAM also stipulated that CPSEs--whose share price has been less than the book value consistently for six months, and have a net worth of at least 3,000 crore and cash and bank balance of over 1,500 crore--may weigh buying back their shares...
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