Ultramarine & Pigments Ltd has announced that the Board of Directors of the Company at its meeting held on March 16, 2007, has declared payment of Interim dividend at the rate of 150%, for the year ending March 31, 2007, i.e., at the rate of Rs 3.00 per share, of Rs 2.00 each. The total dividend outgo (excluding taxes) will be Rs 8,76,00,000.