PVR INOX will look to return around 30% of its annual surplus cash flow to shareholders through dividends and/or share buybacks, as record earnings and stronger cash generation give India's largest cinema exhibitor greater room to reward investors.
The company's board approved a new capital allocation and dividend distribution policy on Tuesday, expanding its earlier dividend-only framework. The policy comes after PVR INOX maintained net-cash positive position, with net cash of Rs 140.7 crore as of September 30, even after completing its maiden Rs 300 crore share buyback in September.
