Gujarat Fluorochemicals Board approves sub-division & Interim dividend

Gujarat Fluorochemicals Ltd has announced that the Board of Directors of the Company at its meeting held on December 19, 2007, has decided to declare Interim Dividend for the financial year 2007-08 @ Rs 3 per equity share (150%). Accordingly, the interim dividend will be paid to those shareholders who are holding shares as on record date.

The Board has decided, subject to approval of the Members of the Company at their forthcoming Extra Ordinary General Meeting of the Company, that the existing one equity share with a paid face value of Rs 2 each be sub divided into two equity shares with a paid up face value of Rs 1 each.

The Board has taken note of the commencement of commercial operations of the PTFE plant with a capacity of 5500 TPA at the chemicals complex of the Company at Dahej. With this, all the plants at the chemicals complex of the Company at Dahej have been commissioned and have commenced commercial operations.

The Board has taken note of, and approved, the Company entering into a Joint Venture with Ying Peng Chemical Company, China, for the manufacture of 35,000 TPA of Anhydrous Hydrofluoric Acid, a strategic raw material, at District Xuanzhou, China.

Source : Equity Bulls

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