United Breweries Board recommends 7.5% dividend

United Breweries Ltd has announced that the Board of Directors of the Company at its meeting held on August 24, 2006, inter alia, has recommended payment of an additional Dividend @ 7.5% on the Equity Share Capital as on March 31, 2006. Including the Interim Dividend already paid @ 15%, the total Dividend outflow for the year ended March 31, 2006 will be 22.5% post confirmation by the members at the Annual General Meeting to be held on September 19, 2006.

Futher the Company has informed that, in view of the Scheme of Arrangement for Amalgamation of Mangalore Breweries & Distilleries Ltd (MBDL) a subsidiary, into the Company granted by the Hon´ble High Court of Karnataka, the Board has authorized the Committee of Directors to allot Equity Shares of the Company to the existing Equity Shareholders of MBDL in the ratio mentioned in the Scheme.

Source : Equity Bulls

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