Morarjee Textiles Board recommends 15% dividend

Morarjee Textiles Ltd has announced that the Board of Directors of the Company at its meeting held on May 18, 2007, inter alia, has recommended dividend as 5% on 5% Redeemable Cumulative Preference shares of Rs 100/- each (Rs 5.00 per share) 15% on Equity shares of Rs 10/-each (Rs 1.50 per share).

Further the Company has informed that, the Board of Directors has re-appointed Mr. Harshvardhan A Piramal as the Executive Vice Chairman of the Company for a further period of 5 years w.e.f. June 01, 2007.

The stock closed the day at Rs.53.40, down by Rs.0.10 or 0.19%. The total traded quantity was 10445 compared to 2 week average of 4787. The stock hit an intraday high of Rs.54 and low of Rs.52.65.

Source : Equity Bulls

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