Polaris boss Arun Jain gives up salary, to survive on just dividends and perks
Thursday, 2nd June 2011
Mr Arun Jain did not take home any salary, bonus or commission for financial year 2010-11 and will continue to do so for the next five years. He, however, will get perks of a value not exceeding Rs 20 lakh a year. Going by the company's financial performance for the year 2010-11, Mr Jain would have earned Rs 3 crore by way of salary and bonus, Mr R. Srikanth, Partner and Chief Financial Officer, Polaris, told Business Line.
Mr Jain will, however, take home dividend for the shares that he holds. As on March 31, 2011, Mr Jain held 43,02,364 shares or 4.34 per cent stake in Polaris. The company's board recommended a dividend of Rs 4.50 per share (90 per cent) on the equity share capital of the company for financial year 2010-11.
Publication : Hindu Businessline
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