TVS Motor, Sundaram Clayton announce interim dividend

Chennai: TVS Motor Company has informed the stock exchanges that its board has declared an interim dividend for the current financial year.
In the filing, the company stated that the dividend would be “at the rate of Rs 1.4 per share (140%) on 47,50,87,114 equity shares of Rs 1/ each fully paid up, absorbing a sum of Rs 79.7 crore, including dividend distribution tax.The second interim dividend declared will be paid on or after March 22, 2019,” said the statement.
Meanwhile group company Sundaram Clayton also announced an interim dividend. In a stock exchange filing, the company said that its board declared second interim dividend, for the financial year ending March 31, 2019, “at the rate of Rs 16 per share (320%) on 2,02,32,085 equity shares of Rs 5 each fully paid up, absorbing a sum of Rs 32.27 crore. The second interim dividend declared will be paid on or after March 22 2019,” said the statement. Sundaram Clayton also announced a change in its top management informing the stock exchange that joint MD Sudarshan Venu had ‘relinquished his position’ effective March 11, 2019, as “he will not be able to give sufficient time to manage the day to day affairs of the companyHe would however continue to serve as non-executive and non independent director,” said the statement. Meanwhile his father Venu Srinivasan was re-appointed MD of the company for a further period of five years effective May 23, 2019, said the stock market statement filed by Sundaram Clayton.