Dividend Recommendation
- The Board of Directors, at its meeting held on Friday, May 15, 2026, recommended a final dividend of Rs. 1.25 per equity share of face value Rs. 5 each (25%) for the financial year ended March 31, 2026.
- Payment is subject to approval by shareholders at the 24th Annual General Meeting (AGM) scheduled for Wednesday, September 23, 2026, at 11:00 AM IST through VC/OAVM.
- The dividend will be paid after September 23, 2026, following shareholder approval.
Record Date
The record date for determining eligible shareholders is Wednesday, September 16, 2026.
TDS Provisions
Pursuant to the Income Tax Act, 2025, dividend income is taxable at the hands of shareholders, and the company is required to deduct TDS at prescribed rates.
For Resident Shareholders:
- Individuals with valid PAN: 10% TDS, unless total dividend for tax year 2026-27 does not exceed Rs. 10,000 or Form 121 is submitted meeting all conditions.
- Individuals without PAN/PAN discrepancy: 20% TDS under section 397(2) of the Act.
- Non-Individuals: Nil TDS for specific entities (Insurance Companies, Mutual Funds, AIFs, NPS Trust) upon submission of self-declaration and supporting documents. Other non-individuals must provide evidence supporting exemption.
- Lower/NIL withholding possible with certificate under section 395(1) of the Act.
For Non-Resident Shareholders:
- Default Rate: 20% plus applicable surcharge and cess under domestic law.
- DTAA Benefit: Option to avail treaty benefits by submitting Tax Residence Certificate (TRC), Form 41 online, self-declaration of treaty eligibility, SEBI registration (for FIIs/FPIs), PAN copy, and specific documents for Singapore residents.
- GDR Holders: 10% TDS (with PAN) or 20% (without PAN), plus applicable surcharge and cess.
Documentation Requirements
Shareholders must submit required documents (Form 121, self-declarations, TRC, etc.) on or before the record date, September 16, 2026, via the link: https://web.in.mpms.mufg.com/formsreg/submissionof-Form-121-41.html or email to investor.helpdesk@in.mpms.mufg.com for both resident and non-resident categories.
Payment Method
Dividend will be paid only through electronic mode. Shareholders must ensure bank account details are updated and KYC compliant in their demat accounts or physical folios.
Additional Provisions
- Rule 203 Declaration: Required if dividend income is assessable in the hands of a person other than the deductee.
- Multiple Accounts: Higher applicable TDS rate will be applied across all holdings under a single PAN.
- Post-Record Date Submissions: Accepted at the sole discretion of the company; may result in higher TDS deduction.
Key Dates
- Record Date: September 16, 2026
- AGM Date: September 23, 2026
- Document Submission Deadline: September 16, 2026
Annexures Provided
- Annexure 1: Form 121
- Annexure 2: Declaration regarding Category and Beneficial Ownership of shares
- Annexure 3: Declaration regarding Tax Residency and Beneficial Ownership of shares
- Annexure 4: TDS Declaration Format under Rule 203