India, June 29 -- Nissan Motor Co. will need to return to positive cash flow and bolster its cash position to start paying out dividends again, Chief Executive Officer Makoto Uchida told shareholders at the Japanese automaker's annual meeting on Monday.

Uchida, who took the helm of Nissan in December, said his goal is to reach positive cash flow during the latter half of the next fiscal year, or October 2021 through March 2022. Nissan is implementing a pay freeze for senior managers for at least six months as it seeks to turn the business around, he said.

(Also read: Nissan promises slew of new models in India, build on existing strengths)

Nissan is seeking to cut 300 billion yen ($2.8 billion) in annual fixes costs and introduce new mod...