Mahindra & Mahindra Limited has recommended a dividend of Rs 33 per equity share of face value Rs 5 each for the financial year ended March 31, 2026. The dividend represents a payout of 660 percent.
The dividend is subject to shareholder approval at the 80th annual general meeting scheduled on July 30, 2026. Mahindra & Mahindra will pay the dividend after the AGM.
The record date for determining shareholder eligibility has been set as July 3, 2026. The register of members and share transfer books will remain closed from July 4 to July 30, 2026 for the dividend payment and the AGM.
Under the Income Tax Act, dividends paid on or after April 1, 2020 are taxable in the hands of shareholders. Mahindra & Mahindra will deduct tax at source at applicable rates while making the dividend payment.
Shareholders seeking tax exemption or lower withholding must submit relevant forms and documents by June 26, 2026. Resident individual shareholders receiving total dividend up to Rs 10,000 in tax year 2026-27 are exempt from TDS.
Non-resident shareholders can avail benefits under Double Tax Avoidance Agreements by submitting a tax residency certificate and Form 41. Mahindra & Mahindra has communicated the documentation requirements to all shareholders through email.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.