L&T To Take Up Special Dividend Plan At Its Upcoming Board Meeting

Engineering conglomerate Larsen & Toubro (L&T) on Friday said it would consider a special dividend at its upcoming board meeting. L&T last doled out a special dividend in March 2008.

The company did not disclose further details or the rationale for the move, however, the announcement comes post completion of the sale of its electrical and automation business to Schneider Electric in August.

L&T’s board will meet on Wednesday to discuss and approve its financial results for the September quarter. In a notice to BSE on Friday, the company said at the meeting, it is also proposed to consider and approve Special Dividend on equity shares, for the Financial Year 2020-21. The notice said, the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as November 5.

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