Indian Hotels Company Ltd recommends 160% dividend

Indian Hotels Company Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2007, inter alia, has recommended a dividend of 160% on Ordinary Shares of Re 1/- each fully paid up of the Company (previous year 130% i.e. Rs 13.00 per Ordinary Equity Share of Rs 10/- each fully paid up).

Accordingly:

1. the dividend payable on one Equity Share of Re 1/- each fully paid up will amount to Rs 1.60/-.

2. the dividend payable on 100 Equity Shares of Re 1/- each fully paid up will amount to Rs 160/-.

The Register of Members & Share Transfer Books of the Company will remain closed from July 20, 2007 to August 03, 2007 for the purpose of payment of dividend.

The stock closed the day at Rs.146.15, up by Rs.1.80 or 1.25%. The stock hit an intraday high of Rs.147.25 and low of Rs.142.55. The total traded quantity was 601500 compared to 2 week average of 330128.

Source : Equity Bulls

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