Bangalore: The 21st annual general meeting (AGM) of Infosys Technologies Limited was held on June 8 in Bangalore. The AGM was chaired by Senator Larry Pressler, independent member of the Board at Infosys, according to an offiical press release.

Pressler was a member of US Congress for 22 years, (of which he was a US Senator for 18 years) during which he served on the Senate Foreign Relations Committee and was the chairman of the Commerce Science and Transportation Committee.

Currently he is senior partner in the Washington DC law firm of O'Connor & Hannan, Pressler and is also the chairperson of the law firm's telecommunications and business group where he specialises in regulatory law, commercial law, telecommunications law, and lobbying activities, the release said.

At the AGM, the members of the company approved an increase in the limit on the aggregate foreign institutional investors (FII) holding in the company from the present 49 per cent to 100 per cent of the paid-up equity share capital of the company. The members also approved the appointment of Claude Smadja as an independent member of the Board of Infosys, the release said.

The Board had recommended a final dividend of Rs 12.50 per share (250 per cent on par value of Rs 5) on April 10 and the members approved the same at the AGM. The said dividend would be paid to all the members of Infosys whose name appears in the register of shareholders as on May 24.

Effective from April 1, the dividend income is proposed to be taxed in the hands of the shareholders and, accordingly, is subject to deduction of withholding tax, if any. However, the withholding tax is applicable only to those shareholders whose dividend income is more than Rs 1,000, the release added.