GTN Textiles AGM approves 9% dividend

GTN Textiles Ltd has announced that the members at the 1st Annual General Meeting (AGM) of the Company held on July 28, 2006, inter alia, have approved the declaration of dividend @ 9% on the paid up equity share capital of the Company as on March 31, 2006.

Authority to Board to contribute and / or subscribe, in any financial year to any body, institute, society, person, trust or fund for any charitable or other purposes not directly related to the business of the Company or to the welfare of its employees upto a total amount of Rupees ten lacs or five percent of the average net profits as determined in accordance with the provisions of sections 349 and 350 of the Companies Act, 1956, during the three financial years immediately preceding, whichever is greater, subject to necessary provisions & approvals.

Source : Equity Bulls

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