BOC India declares 30% dividend

BOC India Ltd has announced that the members at the 70th Annual General Meeting (AGM) of the Company held on July 26, 2006, inter alia, have accorded to the following:

1. Adoption of the Profit and Loss Account for the year ended March 31, 2006, the Balance Sheet as on that date, the Reports of Auditors and Directors thereon.

2. Declaration of dividend on equity shares of Rs 10/- each, at the rate of 30% i.e. Rs 3.00 per share, for the year ended March 31, 2006.

3. Re-appointment of Mr Michael Stewart Huggon, Dr Jamshed Jiji Irani & Mr Susim Mukul Datta, as Directors of the Company.

4. Re-appointment of Messrs Price Waterhouse, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Revision in the remuneration of Mr Srikumar Menon, Finance Director of the Company with effect from January 01, 2006 for the remainder of his tenure, on terms & conditions.

6. Revision in the remuneration of Mr E R Raj Narayanan, Managing Director of the Company with effect from January 01, 2006 for the remainder of his tenure, on terms & conditions.

7. Payment of Commission to Directors of the Company (other than Managing Director, Wholetime Director, Director not resident in India and an Alternate Director) for a further period of five years with effect from April 01, 2007, subject to necessary provisions & approvals.

Source : Equity Bulls

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