Explain the following: Regulation 43A regarding Dividend Distribution Policy.

Top 500 listed entities based on market capitalisation shall formulate a dividend distribution policy. Dividend distribution policy shall be disclosed in their annual reports and on their websites. The dividend distribution policy shall include the following parameters: (a) The circumstances under which the shareholders of listed entities may or may not expect dividend. (b) The financial parameters that shall be considered while declaring dividend; (c) Internal and external factors that shall be considered while declaring dividend; (d) Policy as to how the retained earnings shall be utilized; and (e) Parameters that shall be adopted with regard to various classes of shares. If the listed entity proposes to declare dividend on basis of parameters in addition to clauses (a) to (e) or proposes to change such additional parameters or the dividend distribution policy contained in any of the parameters, it shall disclose such changes along with the rationale for the same in its annual report and on its website. f) Listed entities other than top 500 may disclose their dividend distribution policies on a voluntary basis in their annual reports and on their websites.