Mcdowell & Company Board recommends dividend

Mcdowell & Company Ltd has announced that the Board of Directors of the Company at its meeting held on October 30, 2006, inter alia, has recommended dividend, of 9% on the 9% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each fully paid up (to be allotted pursuant to the Composite Scheme of Arrangement sanctioned by the Hon'ble High Courts of Bombay and Karnataka) and a dividend of 20% on the equity shares of the Company (including the Equity Shares to be allotted pursuant to the Composite Scheme of Arrangement sanctioned by the Hon'ble High Courts of Bombay and Karnataka) for the year ended March 31, 2006, subject to approval by the shareholders.

Source : Equity Bulls

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