Shoppers Stop Board recommends 15% dividend

Shoppers Stop Ltd has announced that the Board of Directors of the Company at its meeting held on April 28, 2007, inter alia, has recommended dividend of 15% on the equity share capital of the Company, subject to necessary approval by members in the ensuing Annual General Meeting.

The Board of Directors has also approved the issue of instrument(s) on a rights basis which may include but not limited to shares / Partly Convertible Debentures / Fully Convertible Debentures / warrants and / or combination thereof for upto an aggregate amount of about Rs 500 crores and has constituted and authorized a Committee of Directors of the Board to decide inter-alia the modalities of the proposed rights issue including but not limited to determining the price of instrument(s), the proportion and entitlement ratio, the timing and including record date of the issue.

Source : Equity Bulls

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