Quess Corp declares maiden dividend

Quess Corp has declared an interim dividend of ₹7 a share for FY21. This will amount to a payout of ₹103.38 crore and the company has fixed May 13 as the record date for the purpose. This is the first ever dividend announcement post its IPO in July 2016 and is aligned with the management’s strategy of optimising shareholder returns, the company said in a statement. The Board has adopted a revised dividend distribution policy, which states that the company expects to return approximately one-third of free cash flow to shareholders through dividend and/or share buyback annually. The stock of Quess Corp closed 2.15 per cent up at ₹635 on the BSE.