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The Board of Directors Aptech Ltd has approved a plan for a buyback of shares.
The shares will be bought at a maximum price of Rs 82 per share and the total amount of money that will be spent on the buyback will be Rs 64.66 crore, according to an exchange announcement.
“...the Company will buyback its equity shares from the open market upto 25% of the capital and free reserve of the Company as per the audited accounts as on March 31, 2013,” it said.
The decision was taken at a board meeting held on May 13, 2013.
The board has also recommended a dividend of Rs 2.5 per share.
The company will inform shareholders of the record date for the dividend in due course, said the company’s announcement.
The notice further added that the Board of Directors in its meeting held on January 22, 2013 had declared and paid an interim dividend of Rs 1.50 per share. The total dividend, accordingly, aggregates to Rs. 4.00 per share for the financial year 2012-13.
