Era Constructions AGM approves 20% dividend

Era Constructions India Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the declaration of dividend on the Equity Shares of the Company @ 20% i.e. at the rate of Rs 2/- per share.

Approval of shareholders under Section 293(1)(d) of the Companies Act, 1956 for borrowing in excess of paid up capital and free reserves of the Company upto Rs 1000 Crores.

Approval of shareholders under Section 293(1)(a) of the Companies Act, 1956 for creation of charge on the assets of the Company by way of mortgage / hypothecation etc.

Approval of shareholders under Section 293(1)(e) of the Companies Act, 1956 for contribution to charitable and other funds under Section 293(1)(e) of the Companies Act, 1956 in excess of Rs 50,000 or 5% of average net profits of the Company during the three immediately preceding financial years.

Source : Equity Bulls

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