Indo Borax Board recommends 15% dividend

Indo Borax & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2007, inter alia, has recommended a dividend on Equity Shares @ 15 % (i.e. Rs 1.50 per shares of face value of Rs 10/- each) for the year ended March 31, 2007. This would, subject to the approval of the shareholders, translate into total outflow amounting to Rs 61.09 Lacs (including dividend distribution tax).

The stock closed on Monday at Rs.71.50, down by Rs.2.90 or 3.90%. The total traded quantity was 4096 compared to 2 week average of 20046. The stock hit an intraday high of Rs.73 and low of Rs.70.90.

Source : Equity Bulls

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