Chemicals company Jyothy Laboratories' board has approved sub-division of existing equity shares of the company. Shares of Rs 5 each will be divided into five equity shares of Rs 1 each, subject to approval of shareholders, the company said today.
The company has also recommended a dividend of Rs 7.50 per equity shares of Rs 5 each for the financial year ended June 30, 2008. In addition the board of directors has recommended a Special Silver Jubilee Year Dividend of Rs 2.50 per equity share. Total dividend works out to 200 per cent of Rs 10.00 per equity shares.
Shares of the company were trading at Rs 465, nearly 2.11 per cent down from Tuesday's closing.
