Sebi makes dividend distribution policy compulsory for top 1,000 listed cos

New Delhi March 26 dmanewsdesk: To strengthen corporate governance practices and disclosure requirements, Sebi on Thursday decided that top 1,000 listed firms should formulate a dividend distribution policy.

“Requirement for formulation of dividend distribution policy by the existing top 500 listed entities has been extended to the top 1,000 listed entities on the basis of market capitalisation,” Sebi said in a statement after conclusion of its board meeting.

In case of board meetings held for more than one day, Sebi said the financial results should be disclosed by listed entities within 30 minutes of end of the board meeting for the day on which such results are considered. Also, the regulator has decided to do away with the requirement to seek stock exchange’s approval for change of name of a listed entity.

Source: PTI