Sterlite Power Transmission has informed that the Board of Directors of the Company at their meeting held on 10th May 2021, approved the payment of Interim Dividend of Rs. 5.30/- per equity share having nominal value of Rs. 2/- each for the financial year 2020-2021. The said Interim Dividend will be payable to those members whose names appear in the Register of Members/ list of Beneficial Owners as provided by the Depositories i.e National Securities Depository Limited (NSDL) and Central Depository Services (India) Ltd (CDSL) as on Record date i.e. Thursday, May 20, 2021.
Starting from 1st April, 2020 onwards, the Company will deduct TDS as per applicable provisions and TDS rates, while paying dividend.
In case of resident shareholders, the rate currently prescribed for TDS is 7.5% for those resident shareholders with valid Permanent Account Number (PAN), 20% for resident shareholders without PAN or invalid PAN. Hence, the shareholders are advised to update their PAN with the Depository Participant, if shares are held in Demat form, and with the Registrar and Share Transfer Agent of the Company, if shares held in Physical form.
For Foreign Residents
Tax shall be deducted at source @20% (plus applicable surcharge and cess) on dividend paid to Foreign Institutional Investors ("FIIs") and Foreign Portfolio Investors ("FPIs") in view of specific provision under section 196D of Act.