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J.K.CEMENT LTD. - Board recommends Dividend
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28 May 2016
JK Cement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2016, inter alia, has transacted the following:&lt;BR&gt;&lt;BR&gt;1. Recommended a dividend of Rs. 4.00 (Rupees four only) per equity share for the financial year ended on March 31, 2016, subject to the approval of members in ensuing Annual General Meeting.&lt;BR&gt;&lt;BR&gt;2. Considered the appointment of Shri Yadupati Singhania as Chairman and Managing Director for three years w.e.f. 1.4.17 including other terms and conditions and recommended to the Shareholders in the ensuing Annual General Meeting for approval.&lt;BR&gt;&lt;BR&gt;3. Decided to raise fund by issue of secured / irredeemable non-convertible debentures in one of more series/tranches on private placement basis for an amount upto Rs. 500 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;4. Enhancement of Borrowing Limits: Subject to the approval of the Shareholders in the ensuring Annual General Meeting Enhanced the borrowing limit from existing Rs. 5000 Crores to Rs. 7500 and in this regard to create security/charges by way of mortgage/hypothecation on the immovable/movable assets of the Company.&lt;BR&gt;&lt;BR&gt;The meeting commenced at 11.30 A.M. and concluded at 3:45 P.M.
View all announcements for J.K.CEMENT LTD. Source: BSE India