Reliance Communications Board recommends 10% dividend, fixes book closure

Reliance Communications Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2007, inter alia, has recommended dividend @ 10% i.e. Rs 0.50 per equity share each of Rs 5, aggregating to Rs 119.60 crores inclusive of tax on dividend for the financial year ended March 31, 2007, subject to approval of the shareholders.

The Register of Members & Share Transfer Books of the Company will remain closed from July 07, 2007 to July 17, 2007 (both days inclusive) for the purpose of payment of dividend and Annual General Meeting of the Company.

The stock closed the day at Rs.477.10, up by Rs.16.95 or 3.68%. The stock hit an intraday high of Rs.480.90 and low of Rs.447. The total traded quantity was 3440536 compared to 2 week average of 1355791.

Source : Equity Bulls

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