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ASHOK LEYLAND LTD. - Board recommends Dividend
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25 May 2016
Ashok Leyland Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 25, 2016, inter alia, has transacted the following:&lt;BR&gt;&lt;BR&gt;1. Recommendation of Dividend&lt;BR&gt;&lt;BR&gt;- The Board of Directors have recommended a dividend of Re. 0.95 per equity share of the face value of Re. 1/- each for the financial year ended March 31, 2016, subject to the approval of the shareholders at the Annual General Meeting (AGM) scheduled to be held on July 21, 2016. The dividend, if declared, shall be paid on and from July 25, 2016.&lt;BR&gt;&lt;BR&gt;2. Raising of Funds&lt;BR&gt;&lt;BR&gt;The Board of Directors approved the following:&lt;BR&gt;&lt;BR&gt;(i) raising of funds by issue of 1350 lakh equity shares with Face value of Re. 1/- each at such price(s), at market price(s) or at a permissible discount or premium to market price(s) in terms of applicable regulations to be determined by the Board at the time of issue to eligible investors including Qualified Institutional Buyers, Foreign Institutions, Foreign Investors, Nonresidents, Corporate Bodies, Mutual Funds, Banks, Insurance Companies, Pension Funds or other eligible investors whether or not Members of the Company, in terms of ICDR Regulations or other applicable laws subject to the approval of the shareholders.&lt;BR&gt;&lt;BR&gt;(ii) raising of funds by issue of secured/unsecured redeemable non-convertible debentures in one or more series/tranches on private placement basis for an amount upto Rs. 700 crores at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing subject to the approval of the shareholders.&lt;BR&gt;&lt;BR&gt;The meeting commenced at 9.45 a.m. and concluded at 1.40 p.m.
View all announcements for ASHOK LEYLAND LTD. Source: BSE India