 "L&T to take up special dividend plan at its upcoming board meeting")
Engineering conglomerate Larsen & Toubro (L&T) on Friday said it would consider a special dividend at its upcoming board meeting. L&T last doled out a special dividend in March 2008.
The company did not disclose further details or the rationale for the move, however, the announcement comes post completion of the sale of its electrical and automation business to Schneider Electric in August.
L&T’s board will meet on Wednesday to discuss and approve its financial results for the September quarter. In a notice to BSE on Friday, the company said at the meeting, it is also proposed to consider and approve Special Dividend on equity shares, for the Financial Year 2020-21. The notice said, the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as November 5.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%