180 Annual Report 2023-24 Atul Ltd Note 29.17 Dividend on equity shares Dividend on equity shares declared and paid during the year: (` cr) Particulars As at March 31, 2024 As at March 31, 2023 Final dividend of ` 25.00 per share for the year 2022-23 (2021-22: ` 25.00) 73.78 73.78 Interim dividend of ` 7.50 per share for the year 2022-23 - 22.14 73.78 95.92 Note: The Company declares and pays dividend in Indian rupees. Companies are required to pay | distribute dividend after deducting applicable withholding income taxes. The remittance of dividends outside India is governed by Indian law on foreign exchange and is also subject to withholding tax at applicable rates. Note 29.18 Buy-back of shares In accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 and the Companies Act, 2013 and rules made thereunder, the Board of Directors in its meeting held on November 07, 2023 (2022-23: March 25, 2022) has approved a proposal to buy-back fully paid-up equity shares of face value of ` 10 each of the Company, at a price not exceeding ` 7,500 (2022-23: ` 11,000) per equity share (maximum buy-back price) and for an amount not exceeding ` 50 cr (202223: ` 70 cr) (maximum buy-back size) from the open market through stock exchange mechanism. Particulars As at March 31, 2024 As at March 31, 2023 Date of Board meeting approving the buy-back November 07, 2023 March 25, 2022 Date of public announcement November 09, 2023 March 29, 2022 Buy-back opening dates November 21, 2023 April 07, 2022 Buy-back closing dates January 01, 2024 May 09, 2022 Number of share bought back 72,000 73,296 Face value of shares bought back ` 10 ` 10 Maximum buy-back price approved by the Board of Directors ` 7,500 ` 11,000 Transferred to capital redemption reserve ` 0.07 ` 0.08 Average buy-back price ` 6,934.70 ` 9,536.31 Consideration paid towards buy-back (excluding tax on buy-back and transaction costs) ` 49.93 ` 69.90
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