Usha Martin Board recommends stock split & dividend

Usha Martin Ltd has announced that the Board of Directors of the Company at its meeting held on May 17, 2007, inter alia, has recommended the payment of dividend of Rs 3.75 per share on existing equity shares of the Company.

Further, the Board has also decided to recommend splitting each equity shares of Rs 5/- each into 5 equity shares of Re 1/- each, subject to necessary requisite approvals, by reducing face value from Rs 5/- to Re 1/- per equity share.

The stock was trading at Rs.248, up by Rs.6.80 or 2.82%. The stock hit an intraday high of Rs.252.90 and low of Rs.242.75. The total traded quantity was 178591 compared to 2 week average of 60501.

Source : Equity Bulls

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