Corporate India Starts Slashing Dividends
After job cuts and pay cuts, India Inc is now wielding the axe on dividends. Several companies are expressing inability to pay dividend at the proposed rate, attributing it to factors like liquidity crunch, earnings slowdown and capex plans. They are either reducing the rate of dividend from the proposed level or even deciding not to pay any dividend, causing a double whammy for shareholders who have already suffered a huge capital loss since the start of this year.
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