Kajaria Ceramics recommends 35% dividend, to issue upto US$ 50 million for expansion

Kajaria Ceramics Ltd has announced that the shareholders at the Annual General Meeting (AGM) of the Company held on August 28, 2006, inter alia, have approved the following:

1. Payment of dividend @ 35% per Equity Share on the paid up capital of the Company for the year ended March 31, 2006 by majority vote.

2. Issue of GDR or FCCBs upto US$ 50 million for the Expansion, Corporate Restructuring / Working capital, future acquisition.

3. Creation of Charge / Mortgage of Company Properties up to Rs 700 Crore - Sec 293(1)(a).

4. Increase the Borrowing Power of the Board up to Rs 700 crore - Sec 293(1)(d).

Source : Equity Bulls

Keywords