KEI Industries Board recommends 25% dividend

KEI Industries Ltd has announced that the Board of Directors of the Company at its meeting held on May 18, 2007, inter alia, has decided the following:

1. Recommended dividend @ 25% (i.e. 0.50 paise per share) on equity shares of face value of Rs 2/- for the year ended March 31, 2007, subject to approval of the shareholders in the ensuing Annual General Meeting.

2. Approved the proposal to De-list the equity shares of the Company from the Delhi Stock Exchange Association Ltd and Calcutta Stock Exchange Association Ltd, from time to time, subject to approval of the shareholders.

3. Decided to fix time, date and venue of 15th Annual General Meeting for the year ended March 31, 2007 in the next Board Meeting

4. Company's New Project at Chopanki, District, Alwar (Rajasthan) has been registered as 100% Export Oriented Undertaking (EOU). The cost of the project will be approx. Rs 45 Crores and is expected to be commissioned by September, 2007.

5. Company's Expansion / Modernization / Upgradation at existing facilities / units at Bhiwadi is progressing as per schedule.

6. Company is in talk with RIICO, Bhiwadi (Rajasthan) for purchase of additional Plot of land for New Expansion plans at Bhiwadi and has authorised its Vice-President to negotiate with the said authority for purchase of land.

Source : Equity Bulls

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