Aarvee Denims declares 20% dividend, launches "Aden"

Aarvee Denims & Exports Ltd has announced that the members at the 17th Annual General Meeting (AGM) of the Company held on September 09, 2006, inter alia, have accorded to the following:

1. Payment of Dividend @ 20% on the equity shares of the Company and 13% dividend per annum on the preference shares of the Company.

2. The various funding options including further issue of shares, FCCB, ADR / GDR, etc, to fund the expansion programs of the company.

3. The Chairman announced in the meeting that the Company has launched its own brand named "Aden" with huge capacity of ready made garments (RMG) i.e. Denim and Non Denim Trousers, Shorts, Jackets, ladies and Children Wear. The Company will carry out the RMG manufacturing in large scale at its new green field project sites. The Company is tying with the big established players and I am glad to mention that the Company has already started working with Pantaloons.

4. It was also announced that the Company is also increasing the processing capacity of non-denim bottom wear putting latest technology. It will be operational in the beginning of the next calendar year.

Source : Equity Bulls

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