Over 20 firms to consider interim dividend next week

mumbai: more than 20 companies are to consider proposals for an interim dividend next week for the current fiscal. this surge for an interim dividend proposal follows union finance minister yashwant sinha''s budgetory announcement to charge a 10 per cent distribution tax on recipients of the dividend instead of companies and mutual funds. leading the pack are tata steel, tata power, tata tea, wockhardt, indian hotels, britannia, bombay dyeing, bses and bajaj auto, according to the information available with the bombay stock exchange.a total of over 30 companies (10 had already informed bse on saturday) have now lined up board meetings next week to consider the interim dividend proposals. meanwhile, the board of kotak mahindra finance ltd has declared a second interim dividend of 30 per cent (rs three per share) for the year 2001-2002.