L&T Infotech May Reduce Dividend Payout Post Listing, Management Says
Do not regret the nearly 5-year delay in L&T Infotech’s listing, says L&T Group’s executive chairman AM Naik.
AM Naik, executive chairman of Larsen and Toubro (L&T) Group, does not regret the nearly 5-year delay in L&T Infotech’s listing.
Naik told BloombergQuint’s Sajeet Manghat that L&T Infotech has now reached a critical size and has embarked upon a path of sustainable growth to create shareholder value. He added, equipped with new-age technologies, “the company can face market requirement very boldly.”
The company is betting on the younger generation to drive leadership at the $16-billion L&T Group.
The younger generation is replacing obsolensce...it is going to be a continuous process.AM Naik, Executive Chairman, L&T Group
The company’s top leaders also spoke about the company’s dividend policy going forward. R Shankar, director of L&T Infotech and CFO of the L&T Group, said that it was “not appropriate to compare the actual dividends L&T has been receiving from L&T Infotech which was its wholly-owned subsidiary” and the dividend payout would depend on L&T Infotech’s cash requirements.
