Dintex Dyechem AGM approves 10% dividend, to setup new project

Dintex Dyechem Ltd has announced that the members at the 20th Annual General Meeting (AGM) of the Company held on September 30, 2006 the Chairman has announced the following:

- Revised estimated Turnover of the company Rs. 235 crores for the financial year 2006-07 instead of Rs 175 crores as declared earlier in the Extra Ordinary General Meeting held on June 16, 2006.

- Production has been started at plot No 252, 253, Phase-l GIDC, Vatva, Ahmedabad. Production will commence in the month of mid October, 2006 at Shed No. 254, Phase II, GIDC, Vatva, Ahmedabad. All three plot or shed were acquired from Polestar Industries.

- The company has acquired about 36 acres land at taluka Padra, Dist-Baroda. The Company is considering implementation of a project, which may be completed by the year 2008. There will be capacity expansion in current range of product and additional Dyes intermediates,

- The Company is under negotiation to acquire land, building and plant & Machinery with all infrastructure which is situated at plot no 606 & 607, GIDC, Panoli, Near Ankleshwar, District Bharuch.

All business as mentioned in the notice have been approved by the shareholders of the Company including declaration of dividend @ 10% i.e. Re. 1 per share on 33,50,000 equity shares of Rs 10/- each.

Source : Equity Bulls

Keywords