At the annual general meeting of Hindalco held earlier this week, the company declared a dividend of Rs 1.10 per share for FY17, against Rs 1 per share last year. Shareholders were not happy given that the company has managed to lighten its balance sheet according to its plans. Homa Pouredehi, a shareholder, offered to rework the company’s math so that shareholders would get higher dividends. Pointing at company officials seated on the dais, she said: “Sir, why are such huge salaries given to these officials? What do they do? Because they are taking so much salary, we are not getting higher dividends.” Pouredehi’s idea of reworking the C-suite salary left the board grinning; Chairman Kumar Mangalam Birla kept his composure.
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