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JSW STEEL LTD. - Board recommends Dividend
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18 May 2016
JSW Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2016, inter alia, has transacted the following:&lt;BR&gt;&lt;BR&gt;1. Recommendation of Dividend:&lt;BR&gt;&lt;BR&gt;i. Dividend at the stipulated rate of Re. 1/- (Rupee One only) per share on the 10% Cumulative Redeemable Preference Shares of Rs. 10 each of the Company has been recommended for the year ended March 31, 2016; and&lt;BR&gt;&lt;BR&gt;ii. Dividend of Rs. 7.50/- (Rupees Seven and Fifty Paise only) (75%) per fully paid-up Equity Share of Rs. 10 each has been recommended for the year ended March 31, 2016.&lt;BR&gt;&lt;BR&gt;The dividend, if declared by the members at the 22nd Annual General Meeting (AGM) of the Company will be credited/dispatched to the members on or before 30 days from the date of Annual General Meeting.&lt;BR&gt;&lt;BR&gt;2. Issuance of Privately Placed Secured Redeemable Non-Convertible Debentures:&lt;BR&gt;&lt;BR&gt;The Board has approved the raising of funds not exceeding Rs. 3,000 Crores in the aggregate, inter alia, through the issuance of Privately Placed Secured Redeemable Non-Convertible Debentures, subject to the approval of the members in their ensuing Annual General Meeting. The issue proceeds would be majorly used to replace Rupee loans, to meet long term working capital requirements, to meet requirements for Normal Capital Expenditure and or approved capital expenditure / Reimbursement of capex already incurred and for General Corporate purposes.
View all announcements for JSW STEEL LTD. Source: BSE India

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