Veedol Corporation Limited (formerly Tide Water Oil Co. (India) Ltd.) has announced an interim dividend of Rs. 22 per equity share. The company's Board of Directors made this decision during their meeting on November 10, 2025.

Key Details of the Dividend Declaration

• Dividend Amount: Rs. 22 per equity share (face value Rs. 2 each)
• Record Date: November 14, 2025
• Payment Timeline: Within 30 days of declaration

Tax Implications for Shareholders

The company has provided detailed guidelines on tax deduction at source (TDS) applicable to different categories of shareholders:

Non-resident shareholders may be eligible for beneficial rates under Double Tax Avoidance Agreements (DTAA) with proper documentation.

Important Dates and Procedures

1. Document Submission Deadline: November 14, 2025
2. Dividend Payment Method: Electronic transfer to shareholders' bank accounts
3. Tax Exemption Forms: Various forms (15G/15H/10F) must be submitted by the deadline for claiming lower or nil TDS rates

Veedol Corporation has emphasized that shareholders should submit fresh documents for the financial year 2025-26, even if similar documents were submitted earlier. This ensures proper record maintenance and accurate identification of eligible shareholders for tax exemptions or prescribed rates.

The company also noted that in case of higher tax deduction due to non-receipt or insufficiency of required documents, shareholders have the option to file income tax returns and claim appropriate refunds if eligible.

Veedol Corporation Limited has advised shareholders to consult with their tax advisors for provisions applicable to their particular circumstances. The company will be obligated to deduct tax at source based on the records made available by the depositories for shares held in electronic mode and from the Registrar and Transfer Agent for shares held in physical mode.

This dividend declaration demonstrates Veedol Corporation's commitment to delivering value to its shareholders, while also ensuring compliance with tax regulations.

Veedol Corporation Limited (formerly Tide Water Oil Co. (India) Ltd.) has announced robust financial results for the second quarter of the fiscal year 2025-26, along with a substantial interim dividend and key management changes.

Financial Performance

The company's Board of Directors, in its 351st meeting held on November 10, 2025, approved the unaudited financial results for the quarter and half-year ended September 30, 2025. The results showcase a strong performance:

Generous Dividend Declaration

Veedol Corporation has declared a first interim dividend of 1100% for the financial year 2025-26. This translates to Rs 22 per ordinary share with a face value of Rs 2 each. The record date for dividend distribution has been set for November 14, 2025, with the payment to be made within 30 days of declaration, by December 8, 2025.

Management Changes

The company has announced several significant changes in its management structure:

1. New Company Secretary: Abhijit Tikekar has been appointed as the Company Secretary & Head Legal (KMP) effective November 10, 2025. Tikekar brings 19 years of experience in company secretarial functions, legal affairs, finance, M&A, statutory compliances, and corporate governance.

2. Board Changes: Two Independent Directors, P.S. Bhattacharyya and P.Y. Gurav, will conclude their directorships on November 12, 2025, due to the completion of two consecutive terms.

   • Bhattacharyya will step down as the chairperson of the Audit Committee and Nomination and Remuneration Committee.
   • Gurav will cease to be a member of the Audit Committee and Committee of Directors.

Regulatory Compliance

The company has affirmed its commitment to regulatory compliance, stating that there are no deviations or variations in the use of funds from public issues, rights issues, preferential issues, or qualified institutions placements. Additionally, Veedol Corporation reported no outstanding loans or debt securities in default.

Looking Ahead

With strong financial results and proactive management changes, Veedol Corporation appears to be positioning itself for continued growth in the lubricants and oil industry. The substantial interim dividend reflects the company's robust cash position and commitment to shareholder value.