Highway Infrastructure Ltd approves dividend waiver, director re-appointments
Highway Infrastructure Limited shareholders approved the insertion of Article 154A into its Articles of Association, allowing members to waive dividend rights, and re-appointed Mr. Arun Kumar Jain and Mr. Anoop Agrawal as directors for three years. The resolutions were passed via postal ballot concluding July 13, 2026, with over 99% approval.
*this image is generated using AI for illustrative purposes only.
Highway Infrastructure Limited shareholders have approved the insertion of Article 154A into its Articles of Association, permitting members to waive their right to receive dividends. The resolution was passed through a postal ballot process that concluded on July 13, 2026, with 99.96% of votes in favour. Additionally, the members approved the re-appointment of Mr. Arun Kumar Jain as Managing Director and Mr. Anoop Agrawal as Whole-Time Director for a further term of 3 years each.
The remote e-voting commenced on June 14, 2026, at 09:00 a.m. IST and concluded on July 13, 2026, at 05:00 p.m. IST. The Scrutinizer's Report, dated July 14, 2026, confirmed that all three resolutions received the requisite majority. The detailed results were disclosed to the stock exchanges in accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Alteration of Articles of Association
The amendment introduces clause 154A, which enables equity shareholders to voluntarily forgo interim or final dividends for any financial year. This waiver must be submitted in writing as prescribed by the Board and becomes irrevocable from the Record Date or Book Closure date. The company will not be liable to pay dividends to members who have executed such a waiver.
| S. No | Clause No. of AOA | Clause related to | Type of Alteration |
|---|---|---|---|
| 1. | 154A | WAIVER OF RIGHT TO RECEIVE DIVIDEND | Insertion of clause allowing members to waive dividend rights subject to Board procedures. |
Voting Results Summary
The postal ballot saw participation from 153 shareholders representing 53,200,541 shares, which constituted 74.18% of the total outstanding shares. The resolutions were passed with overwhelming support from both promoters and public shareholders.
| Resolution | Type | Votes in Favour | Votes Against | % of Favour |
|---|---|---|---|---|
| Insertion of Article 154A | Special | 53,181,078 | 19,463 | 99.96 |
| Re-appointment of Mr. Arun Kumar Jain | Ordinary | 53,198,926 | 1,615 | 100.00 |
| Re-appointment of Mr. Anoop Agrawal | Ordinary | 53,198,770 | 1,771 | 100.00 |
Historical Stock Returns for Highway Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.84% | -0.92% | -6.21% | -16.95% | -62.34% | -62.34% |
What strategic benefits does Highway Infrastructure Limited anticipate from allowing shareholders to waive dividends?
How might the introduction of the dividend waiver clause impact the company's cash flow management and capital allocation plans?
Will the company utilize the capital retained from waived dividends to fund specific expansion projects or reduce debt?
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