“The board thought it prudent to first confirm with Sebi on the applicability of the debt-equity ratio of 6:1 as currently prescribed for a subsidiary NBFC/HFC in the Gazette…,” the company said in a late Monday note to stock exchanges.
The board, which met Monday, advised the company to continue with its policy of paying 50% of profits as dividends, as has been the practise for the past 10 years.
The company is said to be one of the top ten dividend-paying companies in India, having paid Rs 10,530 crore (Rs 271 per share) last 10 years.
Meanwhile, Indiabulls Housing Finance shares lost 5.74% to close at Rs 197.90 Monday after global rating company Moody’s lowered the company’s creditworthiness to B2 from Ba2, citing funding challenges.
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1 Comment on this Story
Shashx Singham373 days ago
Buyback was a foolish decision for a finance company.