Marico Board declares 15% Interim dividend, to issue securities to QIBs

Marico Ltd has announced that the Board of Directors of the Company at its meeting held on October 18, 2006, inter alia, has considered and approved the following:

1. Declaration of Second Interim Dividend at the rate of Rs 1.50 on equity shares of Rs 10.00 each for the financial year 2006-07.

2. Approval for issue of securities to Qualified Institutional Buyers (QIBs) on Qualified Institutional Placement (QIP) basis pursuant to the provisions of Chapter XIII A of the Securities & Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, subject to the approval of the shareholders as required.

3. Approval for issue of securities under the stock option granted through Employees Stock Option Scheme (ESOS), as may be framed by the Board, subject to the approval of the shareholders as required.

Source : Equity Bulls

Keywords