Dividend Unclaimed Dividend

The Interim Dividend of Rs. 4.00 per equity share (representing 400%) on the equity share of Rs.1 each fully paid up for the Financial Year 2021 -2022 declared by the Board shall be paid on or before December 11, 2021. The Record Date for the purpose of Interim Dividend is November 25, 2021.

Financial Year Face Value (₹) Dividend Per Share(₹) % of Dividend
1995-96 10 1.50 15
1996-97 10 3.00 30
1997-98 10 4.50 45
1998-99 10 6.00 60
1999-00 10 3.00 30
2000-01 10 3.50 35
2001-02 10 3.50 35
2002-03 10 1.50 15
2003-04 10 1.50 15
2004-05 10 2.00 20
2005-06 10 2.50 25
2006-07 10 3.50 35
2007-08 10 3.50 35
2008-09 2 0.80 40
2009-10 2 2.90 145
2010-11 – Special Dividend 2 2.00 100
2010-11 2 2.60 130
2011-12 2 3.78 189
2012-13 1 2.52 252
2013-14 1 3.23 323
2014-15 1 3.61 361
2015-16 – Interim & Final 1 4.25 425
2016-17 1 4.25 425
2017-18 - Interim 1 2.00 200
2017-18 1 2.15 215
2018-19 – Interim 1 2.00 2.00
2018-19 – Final 1 5.08 508
2019-20 – 1st Interim 1 6.00 600
2019-20 – 2nd Interim 1 5.00 500
2020-21 – Interim 1 5.00 500
2020-21 – Final 1 6.00 600

In terms of Section 124 of the Companies Act, 2013, read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017, all unpaid or unclaimed dividends are required to be transferred by the Company to the Investor Education and Protection Fund (“IEPF”) established by the Central Government, after completion of seven (7) years.

Accordingly, the company has transferred the unpaid/ unclaimed amount pertaining upto Interim Dividend for the financial year 2012 - 13 to the IEPF.

The following table gives information relating to due dates for transfer of unclaimed/unpaid dividends to IEPF:

Financial Year Type of Payment Date of Declaration Unclaimed dividend as on March 31, 2021 (`) Due Date of Transfer to IEPF
2013-14 Final Dividend August 06, 201439,16,675.39September 11, 2021
2014-15 Final Dividend August 14, 2015 43,34,252.64 September 19, 2022
2015-16* Interim Dividend March 15, 2016 50,31,643.00 April 20, 2023
2016-17 Final Dividend August 07, 2017 52,76,098.75 September 12, 2024
2017-18* Interim Dividend November 09, 2017 24,82,088.00 December 15, 2024
2017-18Final Dividend August 11, 2018 11,84,627.90 September 16, 2025
2018-19* Interim Dividend November 9, 2018 32,02,260.00 December 15, 2025
2018-19 Final Dividend July 20, 2019 24,39,695.40 August 25, 2026
2019-20* I Interim Dividend Dividend November 9, 2019 28,80,786.00 December 15, 2026
2019-20* II Interim Dividend March 9, 2020 27,94,640.00 April 14, 2027
2020-21* Interim DividendFebruary 13, 2021 24,38,211.00 March 21, 2028

* Interim Dividend(s)

The Finance Act 2020 has replaced the Dividend Distribution Tax (DDT) with the classical system of dividend taxation, hence dividend income is now taxed in the hands of the shareholders. In the light of the above changes, under the Income-tax Act, 1961 (Act), companies paying dividend are required to withhold tax at the applicable tax rates (for Resident shareholder at 10% with valid Permanent Account Number (PAN) or at 20% without/invalid PAN and for Non-Resident shareholders at the rates prescribed under the Act or Tax Treaty, read with Multilateral Instruments, if applicable). Further the Finance Act 2021 has brought in section 206AB effective from July 01, 2021 wherein tax would be deducted at higher rates (twice the specified rate) on payment of dividends to specified person.

The provisions of section 206AB of the Act require the deductor to deduct tax at higher of the following rates from amount paid/credited to 'specified person': i.e.

  1. At twice the rate specified in the relevant provision of the Act: or
  2. TDAt twice the rate(s) in force: or
  3. At the rate of 5%,

The 'specified person' means a person who has: a) not filed return of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted, for which the time limit of filing return of income under sub-section (1) of section 139 has expired; and b) subjected to tax deduction/collection at source in aggregate in his case amounting to Rs. 50,000 or more in each of such two immediate previous years.

Accordingly, applicable tax deduction rates for specified person would be twice the prescribed rates. For Resident specified shareholder it would be 20% and for Non-Resident specified shareholders (who has not furnished a declaration stating no permanent establishment in India) the tax deduction rates would be 40% plus applicable surcharge and cess as prescribed under the provisions of Income Tax Act and as applicable.

As it is important for the Company to receive the relevant information and declarations from shareholders to determine the rate of tax deduction, any eligible shareholders, who wishes to avail the benefits of lower/non-deduction of tax at source is required to submit the following documents as required below on or before November 28, 2021.

For Resident Shareholder(s):
Particulars Applicable TDS Rate Documents required (if any)
With PAN 10% Update the PAN, if not already done. with the depositories (in case of shares held in Demat mode) and with the Company's Registrar and Transfer Agents - Cameo Corporate Services Limited at https://investors.cameoindia.com (in case of shares held in physical mode).1.50
Without PAN/ Invalid PAN 20% N. A.
Submit Form 15G/ Form 15H NIL Declaration in Form No. 15G (applicable to resident individual)/ Form 15H (applicable to resident individual who is 60 years and older), fulfilling certain conditions under the Act.
Form 15 G/ 15 H can be downloaded from https://investors.cameoindia.com. There is also provision to upload the 15G/15H in the website https://investors.cameoindia.com provided by the Company's Registrar and Share transfer agent M/s Cameo Corporate Services Limited.
Submit Order under Section 197 of the Act Rate provided in the Order ed from Income Tax authority.
Shareholders to whom Section 194 of the Act is not applicable NIL evidence that the said provisions are not applicable.
Persons Covered under Section 196 of the Act (e.g. Mutual Funds, Govt., RBI) NIL Documentary evidence that the shareholder is covered under said Section 196 of the Act and Declaration that their income is exempt under Section 10 (23D) of the Income Tax Act, 1961 and therefore no TDS is required under Section 196 (iv) of the Income Tax Act, 1961.
Alternative Investment Funds (AIF) registered with SEBI Nil AIF established/incorporated in India - Self-declaration that its income is exempt under Section 10 (23FBA) of the Income Tax Act, 1961 and they are governed by SEBI regulations as Category I or Category II AIF along with self-attested copy of the PAN card and registration certificate

Further, no withholding of tax is applicable if the dividend payable to resident individual shareholders is up to Rs. 5,000 p.a. within a financial year.

We would like to inform the shareholders regarding the revised provisions of the Income Tax Act, 1961 ("the Act"), as amended by the Finance Act, 2020 and the relevant documentation required to be furnished by the shareholders to the Company.   

The TDS would vary depending on the residential status of the shareholder and documents submitted by them and accepted by the Company in this regard. Accordingly, the dividend, when declared, will be paid after deducting TDS.

The following table below provides a brief of the applicable TDS provisions under the Act for Resident and Non-Resident shareholder(s) categories along with the required documents.

For Non-Resident Shareholder:
Particulars Applicable TDS Rate Documents required (if any)
Foreign Institutional Investors (FIIs) / Foreign Portfolio Investors (FPIs) 20% (plus applicable surcharge and cess) None
Other Non-resident shareholders 20% (plus applicable surcharge and cess) OR Tax Treaty Rate** (whichever is lower) Non-resident shareholders may opt for tax rate under Double Taxation Avoidance Agreement ("Tax Treaty"). The Tax Treaty rate shall be applied for tax deduction at source on submission of following documents to the Company:
  1. Self-attested copy of the PAN Card, if any, allotted by the Indian authorities.
  2. Self-attested Tax Residency Certificate (TRC) obtained from the tax authorities of the country of which the shareholder is a resident.
  3. Self-declaration in Form 10F duly filled and signed. Please download Form 10F from https://investors.cameoindia.com
  4. Self-declaration from Non-resident, primarily covering the following:
  1. Shareholder is and will continue to remain a tax resident of the Country of its residence during the financial year for which it is declared;
  2. Shareholder is eligible to claim the beneficial DTAA rate for the purposes of tax withholding on dividend declared by the Company;
  3. Shareholder has no reason to believe that its claim for the benefits of the DTAA is impaired in any manner;
  4. Shareholder is the ultimate beneficial owner of its shareholding in the Company and dividend receivable from the Company; and
  5. Shareholder does not have a taxable presence or a permanent establishment in India during the financial year for which it is declared.
Submitting Order u/s 197 of the Act (i.e. lower or NIL withholding tax certificate) Rate provided in the Order Lower/NIL withholding tax certificate obtained from tax authority.

** The Company is not obligated to apply the beneficial Tax Treaty rates at the time of tax deduction/withholding on dividend amounts. Application of beneficial Tax Treaty Rate shall depend upon the completeness of the documents submitted by the Non- Resident shareholder and review to the satisfaction of the company. 

We request you to inform us well in advance and before cut-off date if you are covered under the definition of 'specified person' as provided in section 206AB of the Act. The Company reserves its right to recover any demand raised subsequently on the Company for not informing the Company or providing wrong information about applicability of Section 206AB in your case.

Shareholders are requested to consult their their auditors/tax consultants for further details in this regard.

Notes:
  1. Shareholders who are exempted from TDS provisions through any circular or notification may need to provide documentary evidence in relation to the same to enable the Company in applying the appropriate TDS on Dividend payment to such shareholder.The aforesaid documents, as applicable, are required to be duly completed, signed and shall eb sent to investor@cameoindia.com or investorservices@amararjaa.com.  The Company shall determine the appropriate TDS / withholding tax rate applicable based on the declarations received by it as on the Record Date(s) fixed by it for the dividend(s) proposed, if any.
  2. The updation of PAN, submission of Form 15G/15H, submission of documents including declaration from non-resident shareholders and any documents submission with regard to TDS shall reach the RTA at investor@cameoindia.com.
  3. The above communication on TDS sets out the provisions of the law in a summary only and does not purport to be a complete analysis or listing of all potential tax consequences. Shareholders should consult with their own tax advisors for the tax provisions that may be applicable to them.
  4. Kindly note that no claim shall lie against the Company for the tax deducted at source on Dividend. It may further be noted that in case the tax on said dividend is deducted at a higher rate in absence of receipt of the aforementioned details/documents from the shareholders, the shareholders may file return of income and claim refund of tax, as appropriate.
  5. The Company shall arrange to email the soft copy of TDS certificate at your registered email ID in due course, post payment of the dividend.  Shareholders will also be able to see the credit of TDS in Form 26AS, which can be downloaded from their e-filing account at https://www.incometaxindiaefiling.gov.in/
  6. If the tax is deducted at a higher rate in absence of receipt of or satisfactory completeness of the afore-mentioned details / documents by Company before Dividend Processing Period, the shareholder(s) may claim an appropriate refund in the return of income filed with their respective Tax authorities. 
  7. In the event of any income tax demand (including interest, penalty, etc.) arising from any misrepresentation, inaccuracy or omission of information provided / to be provided by the Shareholder(s), such Shareholder(s) will be responsible to indemnify the Company and also, provide the Company with all information / documents and co-operation in any appellate proceedings.
  8. In the event the registered shareholder intends to transfer the TDS credit on the dividend income to other persons as per Rule 37BA of the Income Tax Act 1962, such shareholder is required to submit the duly signed Declaration containing the name, address and PAN of the person to whom the TDS credit is to be given and the reasons for giving the credit to such person. Incomplete declaration forms will not be entertained by the company for transfer of TDS credit. The registered shareholder shall indemnify the Company for any incorrect or misleading information furnished in the Declaration.
  9. Needless to mention, valid Permanent Account Number ("PAN") will be mandatorily required.  Shareholders who are required to link Aadhaar number with PAN as required under section 139AA(2) read with Rule 114AAA, should compulsorily link the same by March 31, 2022. If, as required under the law, any PAN is found to have not been linked with Aadhaar by March 31, 2022 then such a PAN will be inoperative and Tax would be deducted at a higher rate under section 206AA of the Act.
  10. Updating of Bank Account:
    Shareholders holding shares in demat mode are requested to ensure that their bank account details are updated with their respective demat accounts, to enable the Company to make timely credit of dividends in their respective bank accounts.

In case of any query you reach out to us by sending an email at investor@cameoindia.com or investorservices@amararaja.com or contact Mr. P Muralidharan, Joint Manager, Cameo  Corporate  Services  Limited at +91 44 28460718.



Unclaimed Dividend as March 31 of every year

Details of Unclaimed dividend in Form IEPF-2, as required by the Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, for the all unclaimed dividend accounts are provided herein below: