Asian Star AGM approves 20% dividend

Asian Star Company Ltd has announced that the members at the 12th Annual General Meeting (AGM) of the Company held on September 12, 2006, inter alia, have accorded to the following:

1. (i) Declaration of dividend at Rs 0.30 per share of Rs 10 each on redeemable cumulative preference shares and (ii) declaration of dividend at Rs 2 per shares of Rs 10 each on equity shares.

Authority to Board to contribute to any institute, body, trust, society, association or person, funds for any charitable purpose, not directly relating to the business of the Company or the welfare of its employees, upto an amount not exceeding Rs 1.50 crores per annum or 5% of average net profits of previous three financial years whichever is higher, notwithstanding that the said amount may exceed the limits laid down in section 293(1)(e) of the Companies Act 1956.

Source : Equity Bulls

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