Crompton Greaves Board recommends 2:5 Bonus issue, 20% dividend

Crompton Greaves Ltd has announced that the Board of Directors of the Company at its meeting held on October 14, 2006, inter alia, has approved the following:

1. Declared an interim dividend of 20% i.e. 40 paise per equity share of Rs 2/- each for the financial year 2006-07.

2. Recommended issue of Bonus shares in the proportion of 2 new equity shares for every 5 equity shares, of Rs 2/- each, subject to approval of members in General Meeting and the Regulatory Authorities, as necessary.

The Extra Ordinary General Meeting of the Company, to seek members approval has been convened on November 23, 2006.

Source : Equity Bulls

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