FINANCE MINISTRY DIRECTS PROFIT MAKING PSU’S TO BUY BACK SHARES

New Delhi: The Department of Investment and Public Asset Management in a recent letter to Central Public Sector Enterprises has asked them to pay dividend at the rate of 30% of net profit or 5% of the net worth, whichever is higher.

The finance ministry has directed all profit-making PSUs to use their surplus cash to buy back shares and pay handsome dividends, besides considering issuing bonus shares or going for stock split.

Author: sarkarimirror