Mumbai: Target of a hostile takeover attempt, Mindtree Ltd’s declaration of a generous dividend payout plan has attracted the regulator's glare. In a recent letter, the Securities and Exchange Board of India, or Sebi, has asked Mindtree questions about its hefty dividend payout plan. On 18 April, while declaring the annual results for fiscal 2019, Mindtree board announced a total dividend of 270% on ₹10 per share. This includes a special dividend of 200%, final dividend of 40% and interim dividend of 30% for fiscal 2019. On 18 March, L&T announced its plan to takeover Mindtree by acquiring 20.32% stake from Café Coffee Day founder V.G.

Source: Mint May 10, 2019 10:52 UTC