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Suryalata Spinning declares dividend @ 20%

28 Sep '07
2 min read

Suryalata Spinning Mills Ltd has informed that the members at the 24th Annual General Meeting of the Company held on September 26, 2007, inter alia, have accorded to the following:
1. Adoption of the audited Profit and Loss Account for the year ended March 31, 2007 and the Balance Sheet as on that date and the reports of the Directors' and Auditors' thereon.

2. Declaration of a dividend @ 20% on the paid-up Equity Share Capital of the Company for the year ended March 31, 2007.

3. Declaration of a dividend of 12% on 1,95,250 Cumulative Redeemable Preference Shares of Rs 100/- each (Series II, III & IV) and 8% on 1,57,000 Cumulative Redeemable Preference Shares of Rs 100/- each (Series VII & VIII) on pro-rata basis, for the year 2006-2007.

4. Re-appointment of Sri R Surender Reddy & Sri K S Purohit, as Directors of the Company, liable to retire by rotation.

5. Re-appointment of M/s. Brahmayya & Co., Chartered Accountants, Hyderabad, as Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting, on remuneration terms & conditions.

6. Re-appointment of Shri Veerender Kumar Agarwal as the Executive Director of the Company for a further period of 5 years effective from May 27, 2007 on remuneration terms and conditions.

Suryalata Spinning Mills Ltd

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