Automotive Stampings Board recommends dividend

Automotive Stampings & Assemblies Ltd has announced that the Board of Directors of the Company at its meeting held on May 22, 2007, inter alia, has considered the following:

1. Recommended a dividend @ 12% (Rs 1.20 per share) on the Cumulative Redeemable Preference Shares of Rs 10/- each for the year 2006-07.

2. Recommended a Dividend @ 15% (Rs 1.50 per share) on the Equity Shares of Rs 10/- each for the year 2006-07.

3. Approved revised investment of Rs 481 Million for the proposed unit at Pantnagar in Uttarakhand.

4. Approved expansion of capacity at Chakan plant with an estimated outlay of Rs 211 million to cater to the new programs of major customers.

Source : Equity Bulls

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