Of Re 1 per CCPS and Rs 1.75 per equity share
Industrial Investment Trust announced that the Board of Directors of the Company at its meeting held on 20 May 2014, inter alia, has transacted the following:The Board of Directors of the Company has recommended dividend for the financial year 2013-14 on the Compulsory Convertible Preference Shares (CCPS) of the face value of Rs 10 each on pro-rata basis at the of rate of Re 1 per CCPS (i.e. 10%), subject to the approval of the members of the company at the ensuing Annual General Meeting.
The Board has recommended a dividend at the rate of 17.50% i.e Rs 1.75 per equity share of Rs 10 each including 9,777,550 underlying equity shares issued against 4,888,755 Global Depository Shares (GDS). The dividend on 1,050,000 equity shares upon Conversion of CCPS during the year ended 31 March 2014, is on pro rata basis.
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