FMCG major Dabur today said it has completed merger of Fem Care Pharma with itself, following which the latter will be delisted from the stock exchanges.
The company's board, which met today, approved allotment of shares in the ratio of 5:1 (five shares of Dabur for every one share held in Fem Care) in order to delist Fem Care.
The board also gave nod for payment of final dividend of 125 per cent, taking the total dividend for the year to 200 per cent.
"The effect of the merger of Fem Care Pharma with itself have been approved by the Dabur India Ltd Board in the meeting held today," the company said in a statement.
The merger will come into effect retrospectively from April 1, 2009, and the company has fixed June 30 as the record date for allotment of Dabur India shares to Fem Care Pharma shareholders.
"With this, Fem Care Pharma Ltd will now cease to exist," it added.
Earlier, the merger proposal was approved by the Delhi High Court on April 19, 2010, and the Bombay High Court on May 7, 2010.
Dabur had acquired Fem Care in 2009 for over Rs 270 crore.
Besides, the company has recommended a final dividend of 125 per cent, taking the total dividend for the year to 200 per cent.
"Continuing with our payout policy, the Board has proposed a final dividend of Rs 1.25 per share, aggregating to Rs 127.08 crore. With the interim dividend of 75 per cent already paid earlier, the total dividend during the year is 200 per cent," Dabur India Chairman Anand Burman said.
In 2009-10, Dabur registered 20.6 per cent growth in sales to Rs 3,416.67 crore over the previous fiscal.
It had a net profit of Rs 503.23 crore, a 28.6 per cent surge from Rs 391.21 crore in the previous financial year.
