Hindustan Dorr AGM approves 20% dividend, 1:5 bonus shares

Hindustan Dorr Oliver Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 22, 2006, inter alia, have unanimously approved the resolutions for payment of dividend at the rate of Rs 0.40 per share i.e. @ 20%.

Further the Company has informed that the members have also unanimously approved issuance of bonus shares in the ratio of 1:5 (one bonus shares for every five shares held) However, the amount of capitalization and the number of bonus shares approved by members do not include the bonus shares to be allotted against shares arising out of conversion of outstanding warrants. Hence, the Board considered it prudent to take fresh mandate for enhanced capitalization and number of shares and decided to call for an extra ordinary general meeting on October 27, 2006, for seeking fresh approval from the members.

Source : Equity Bulls

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