Carborundum Universal Board recommends 75% dividend, to enter power tools business

Carborundum Universal Ltd has announced that the Board of Directors of the Company at its meeting held on Aril 30, 2007, inter alia, has approved the following:
1. Recommended a dividend of 75% (i.e. Rs 1.50/- per equity share of Rs 2/- each) for the year.

2. The final dividend warrants will be posted by July 31, 2007. In case of shareholders opting for ECS, the dividend would in the normal course be credited to their accounts by July 31, 2007.

3. Mr. Sridhar Ganesh, Director - HR, Murugappa Group, has been inducted as an Additional Director on the Board.

4. The Board has approved entry into the power tools business. Approval of the shareholders for the same would be sought by way of a postal ballot.

Source : Equity Bulls

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