Top 25 dividend-paying MNCs may gain big from DDT waiver

Published On: Friday, February 7, 2020 | By: Team KnowMyStock

Some of India's Top dividend-paying Company like HUL, Maruti Suzuki, Nestle, and Colgate-Palmolive are to save more than Rs 2,800 crore collectively after the government’s move to abolish the levy on distributing dividends. This Savings will either be used to increase dividend payouts for both local and overseas investors or be transferred to the overseas bases benefiting foreign shareholders. Data collected from the previous year’s annual reports of the top 25 MNC dividend payers showed that the companies had declared Rs 17,765 crore in aggregate dividends in FY19. They paid Rs 3,008 crore of dividend distribution tax at the rate of 17 per cent of the dividend. The dividend after-tax works out to Rs 14,756.6 crore. Of the above, the foreign investors received a dividend of Rs 9,154.8 crore based on their shareholding in the respective MNCs

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