Andhra Pradesh Paper AGM approves 20% dividend

Andhra Pradesh Paper Mills Ltd has announced that the members at the 42nd Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the declaration of Dividend of Rs 2/- per share on equity shares of Rs 10/- each for the financial year 2005-06.

Revision of borrowing limit under section 293(1)(d) of the Companies Act, 1956 upto Rs 1000 crores.

Creating mortgages / charges and hypothecations on the assets of the Company under section 293(1)(a) of the Companies Act, 1956 for an aggregate value not exceeding Rs 1000 crores.

Issue of further securities under Section 81 (1A) of the companies Act, 1956 for a total amount not exceeding US $ 50 million or its equivalent value in Indian Rupees.

Source : Equity Bulls

Keywords