Institutional EYE

Commentary on Corporate Governance Issues

April 3, 2020

Given that many companies are going to scramble to find money just to survive, dividends and buy-backs should be the last thing on a board’s agenda. Only after business has stabilized and there is visibility ahead, should companies look at paying their shareholders.

The...

February 6, 2020

60 companies can incrementally return almost Rs. 886 billionto shareholders

Cash hoarding continues to plague the Indian corporate sector. In our fifth annual study on companies that can pay more, IiAS estimates, based on FY19 financials, that 60 of the S&P BSE 500 comp...

April 11, 2019

Based on FY18 financial statements of the BSE 500 constituents, IiAS’ study this year identifies 75 that can return cash of up to Rs. 1.1 trillion to shareholders. These companies have large cash holdings and can distribute about half of their on-balance-sheet cash (in...

January 17, 2018

Despite a muted earnings growth in FY17, Indian companies can pay higher dividends from their existing cash piles. IiAS’ research has identified 92 of the S&P BSE 500 companies hold about Rs.1.85 bn in aggregate cash and cash equivalents – of which, conservatively, alm...

June 8, 2017

Cash hoarding has plagued corporate India for long. Therefore, SEBI’s decision to mandate India’s top 500 to formulate and disclose a dividend policy has compelled corporate India to have a more considered capital allocation policy. Corporate India has responded well:...

February 22, 2017

Companies clearly continue to hold cash stockpiles and must consider paying higher dividends. IiAS’ study, based on FY16 financials identifies 88 companies that can pay, conservatively, Rs.276 bn in dividends. This is higher than the amount of Rs.213 bn IiAS identified...

October 19, 2016

On 8 July 2016, SEBI amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2016, to make it mandatory for the top 500 listed companies to formulate and disclose a dividend distribution policy. In order to help companies through this transition...

January 19, 2016

India Inc can pay more dividends: IiAS’ study (based on FY15 financials) shows that at least 73 of the S&P BSE 500 companies can double the amount of dividends. This is despite the fact that companies increased dividend payouts following IiAS’ 2014 study (based on FY13...

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