Page 105 - Crisil Annual Report 2023

Statutory Reports
21. Dividend
Dividend Policy: CRISIL believes in maintaining a fair balance between cash retention and dividend distribution. Cash retention is required to finance acquisitions and future growth and also as a means to meet any unforeseen contingency. CRISIL’s Dividend Policy specifies the financial parameters that would be considered when declaring a dividend, the internal and external factors that would be considered for declaring a dividend, and the circumstances under which shareholders can or cannot expect a dividend. The Policy has been uploaded to the Company’s website, www.crisil. com/en/home/investors/corporate-governance.html; it is also annexed herewith as Annexure I.
Modes of payment of dividend: Dividend is paid through the following two modes:
(a) Credit to the bank account via Electronic Clearing Service (ECS)/ National Electronic Clearing Service (NECS)/ SWIFT transfer
(b) Despatch of physical dividend warrants/ cheques
Tax on dividend: The Finance Act, 2021, abolished the Dividend Distribution Tax (DDT) and made dividend income taxable in the hands of the recipient shareholders, with effect from April 1, 2021. CRISIL has made the necessary changes in its dividend payment process in coordination with internal and external stakeholders, such as the Registrar and Share Transfer Agent and bankers. The Company regularly sends communication to its shareholders before each dividend, requesting them to submit the required documents for claiming beneficial tax rates, if applicable.
1. Unclaimed Final and Special Dividend 2015
2. Unclaimed 1st Interim Dividend 2016
3. Unclaimed 2nd Interim Dividend 2016
4. Unclaimed 3rd Interim Dividend 2016
5. Final Dividend 2016
6. Unclaimed 1st Interim Dividend 2017
7. Unclaimed 2nd Interim Dividend 2017
8. Unclaimed 3rd Interim Dividend 2017
9. Final Dividend 2017
10. Unclaimed 1st Interim Dividend 2018
11. Unclaimed 2nd Interim Dividend 2018
12. Unclaimed 3rd Interim Dividend 2018
13. Final Dividend 2018
ECS/ NECS: CRISIL has extended the ECS/ NECS facility to shareholders to enable them to receive dividend through the electronic mode in their bank account. The Company encourages members to use this facility, as ECS/ NECS provides adequate protection against fraudulent interception and encashment of dividend warrants, in addition to eliminating loss/ damage of dividend warrants in transit and correspondence with the Company on revalidation/ issuance of duplicate dividend warrants. Investors may obtain the ECS/ NECS mandate form from the FAQs link (https://www.crisil. com/en/home/investors/shareholder-services/faqs. html) in the Investors section of the Company’s website, www.crisil.com.
Bank details for electronic shareholding: Members are requested to furnish complete details of their bank accounts, including the bank’s MICR code, to their DPs. They are also requested to notify their DPs about changes in bank details.
Unclaimed dividend: Dividend that is not encashed or claimed within seven years from the date of its transfer to the unpaid dividend account will, in terms of the provisions of Section 124(5) of the Companies Act, 2013, be transferred to the Investor Education and Protection Fund (IEPF) established by the government. In respect of the transfers made after coming into effect of the IEPF Authority(Accounting,Audit,TransferandRefund)Rules, 2016, shareholders will be entitled to claim the dividend transferred from the IEPF in accordance with such procedure and on submission of such documents as may be prescribed. The details of unclaimed dividend as at December 31, 2023 and the dates when the dividend will be transferred to the IEPF are as follows:
Sl. no.
Dividend name
Dividend per share (J)
%
Date of declaration/ approval of dividend
Due date for transfer to IEPF*
10.00 1,000
5.00 500
6.00 600
7.00 700
9.00 900
6.00 600
6.00 600
6.00 600
10.00 1,000
6.00 600
6.00 600
7.00 700
April 19, 2016
April 19, 2016
July 19, 2016
October 14, 2016
April 20, 2017
April 20, 2017
July 18, 2017
October 17, 2017
April 17, 2018
April 17, 2018
July 17, 2018
October 16, 2018
April 17, 2019
May 20, 2023
May 20, 2023
August 19, 2023
November 14, 2023
May 20, 2024
May 20, 2024
August 17, 2024
November 16, 2024
May 17, 2025
May 17, 2025
August 16, 2025
November 15, 2025
May 17, 2026
11.00 1,100
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