Andhra Pradesh Paper Mills informed the Bombay Stock Exchange that the shareholders at the 46th Annual General Meeting (AGM) held on July 15 have approved a dividend of Re 1 per share on over 3 crore shares of Rs 10 each aggregating to Rs 327.52 lakh.
The shareholders also approved payment of commission to non-executive directors (as per Section 309 of Companies Act, 1956) for a five year period starting April 1.
The company will re-appoint Sheetal Bangur as whole-time director designated director (commercial) for five years with effect from April 01 with PJV Sarma and PK Paul as directors. LN Bangur has been appointed as executive chairman for five years from May 27. The company revised remuneration to managing director M K Tara, Sheetal Bangur, director (corporate) Shreeyash Bangur and director (operations) P K Suri.