Veedol Corporation Limited Announces Dividend for FY 2025-26 and Outlines TDS Guidelines
Veedol Corporation Limited (formerly known as Tide Water Oil Company (India) Limited) has announced a recommended dividend of Rs. 22.00 per equity share for the financial year ended March 31, 2026. The Board of Directors approved this recommendation during its meeting held on May 20, 2026.The dividend is subject to shareholder approval at the Annual General Meeting scheduled for August 24, 2026. Shareholders who hold equity shares as of the record date, July 17, 2026, will be eligible to receive payments in electronic form.
Tax Deduction at Source (TDS) Framework
The company has detailed a comprehensive framework for Tax Deduction at Source (TDS) on the final dividend. The deduction rates are determined by the residency status of the shareholder and the submission of required documentation, such as valid Permanent Account Numbers (PAN) and specific declarations.For resident shareholders, the standard TDS rate is 10% provided a valid PAN is submitted. However, no tax will be deducted if the total dividend distributed during a financial year does not exceed Rs. 10,000. Shareholders can also opt for Nil withholding by submitting Form 121 or an exemption certificate issued by the Income-tax Department.
Non-resident shareholders, including Foreign Portfolio Investors (FPIs), will be subject to a default tax rate of 20% plus applicable surcharge and cess. However, they may benefit from lower rates based on applicable tax treaties (DTAA) provided they submit specific documentation, including the Tax Residency Certificate (TRC) and electronically generated Form-41.
| Shareholder Category | Standard TDS Rate | Exceptions / Lower Rates |
|---|---|---|
| Resident Individuals | 10% with valid PAN | Nil if dividend is $\leq$ Rs. 10,000 or via Form 121 |
| Non-Resident Shareholders | 20% plus surcharge/cess | Treaty rates (DTAA) based on submitted documents |
| Resident Non-Individuals | Variable | Nil rate upon submission of specific self-declarations |
Compliance and Submission Deadlines
To ensure the correct application of tax rates, shareholders are required to submit necessary documents, including PAN details, bank account information, and self-declarations, to the Registrar and Share Transfer Agent (RTA). The cut-off date for submitting these documents is August 19, 2026.The company has emphasized that failure to update bank details or provide mandatory KYC information—including contact details, mobile numbers, and specimen signatures—may result in the withholding of dividend payments. All payments will be processed exclusively through electronic modes; no physical cheques, drafts, or warrants will be issued.
Shareholders holding shares in demat mode are advised to update their records with their respective depository participants. Those holding physical shares must communicate their updated details directly to the RTA, Maheshwari Datamatics Private Limited.
VEEDOL Stock Price Movement
Veedol Corporation Limited shares today slipped by 1.53% to settle at ₹1,408.70. The stock traded with a volume of 14,864 shares as it faced intraday pressure from a high of ₹1,430.90.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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