Supreme Petrochem Ltd Board recommends 10% dividend

Supreme Petrochem Ltd has announced that the Board of Directors of the Company at its meeting held on August 09, 2007, inter alia, has transacted the following:

1. Recommended dividend of 10% for the year 2006-07 on equity shares entailing an outgo of Rs 1,140.85 lacs including dividend distribution tax.

2. Approved in principle the merger of the subsidiary viz. SPL Polymers Ltd with the Company and to appoint valuers for valuation of the shares to determine the share exchange ratio.

The stock was trading at Rs.26.30, up by Rs.0.20 or 0.77%. The stock hit an intraday high of Rs.28.20 and low of Rs.26. The total traded quantity was 723146 compared to 2 week average of 177027.

Source : Equity Bulls

Keywords