Bayer ABS to pay 80% special dividend

The board of directors of Bayer ABS today cleared a special dividend of 80% i.e Rs 8 per share.

According to a release issued to the BSE today, the record date for the payment will be February 18, 2005.

"In the light of the withdrawal of Bayer name, the company has decided to seek change of name to Lanxess ABS preferably or such other name and take measures to delete article 177 of the company to implement the change. Accordingly, the next board meeting on March 16, 2005 will consider the agenda and recommend it to the shareholders for approval at the ensuing AGM to be held in the last week of April, 2005," the release added.