Lakshmi Overseas Board recommends 20% dividend, increases FII limit to 59%

Lakshmi Overseas Industries Ltd has announced that the Board of Directors of the Company at its meeting held on August 28, 2006, inter alia, has taken the following decisions:

1. The Board approved the increase in foreign shareholding limit to 59% and bifurcated limits will be FIIs 49% and NRIs 10%.

2. Board recommended a final dividend @ 20% making total payout of 40% for the year 2005-06 (20% being interim already paid).

Source : Equity Bulls

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