Garware Offshore Board recommends final dividend

Garware Offshore Services Ltd has announced that the Board of Directors of the Company at its meeting held on March 22, 2007, has considered and approved the following:

1. Recommendation of final dividend @ 8% in addition to the interim dividend of 10% already declared and paid. The total dividend for the year 2006 is 18% (Previous Year 12%).

2. The Chairman apprised the Board of the following developments:

i. The Company has marketed Four Havyard Leirvik designs to an Indian Shipyard in early 2007.

ii. The Company has entered into an agreement for the acquisition of one newly built Anchor Handling Tug-cum-Supply Vessel of 60 Tons Bollard Pull, as a Yard Sale, fitted with Fire Fighting Equipment, which will be Dynamic Position (DPI) enabled. The Vessel is scheduled to be delivered to the Company in mid 2008.

Source : Equity Bulls

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