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MINDTREE LTD. - Board recommend Bonus Issue, Final and Special Dividend and declares Third Interim Dividend
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16 Apr 2014
MindTree Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2014, inter alia, has transacted the following:&lt;br/&gt;&lt;br/&gt;1. Third Interim Dividend - The Board of Directors at its meeting held April 16, 2014 have recommended third interim dividend of 50% (Rs. 5/- per equity share of par value Rs. 10/- each) for the fourth quarter ending March 31, 2014. The Third Interim Dividend will be paid to the registered Shareholders on or before May 05, 2014.&lt;br/&gt;&lt;br/&gt;2. Final and Special Dividend - The Board of Directors have also recommended a Final Dividend of 50% (Rs. 5 per equity share of par value Rs. 10/- each) for the year ended March 31, 2014 and a Special Dividend of 50% (Rs. 5 per equity share of par value Rs. 10/- each) for completion of 15 years in business and the Final and Special Dividends are payable subject to the approval of Shareholders at the 15th Annual General Meeting. If the proposed 1:1 bonus share issue is approved by Shareholders prior to the date of the 15th Annual General Meeting, the Final and Special Dividend amounts would be accordingly reduced to 25% (Rs. 2.5 per equity share of Rs. 10/- each)&lt;br/&gt;&lt;br/&gt;3. Change in Authorised Share Capital - The Board of Directors at its meeting held on April 16, 2014 have in order to augment further capital raising, have recommended for increase in the Authorised Share Capital and consequent alteration of the Memorandum of Association of the Company subject to the approval of the Shareholders. The existing Authorised Share Capital of the Company of Rs. 79,62,00,000 (Rupees Seventy Nine Crores Sixty Two Lakhs only) divided into 7,96,20,000 (Seven Crores Ninety Six Lakhs Twenty Thousand only) Equity Shares of Rs. 10/- each (Rupees Ten only) is proposed by the Board of Directors to be increased to Rs. 800,00,00,000 (Rupees Eight Hundred Crores only) comprising of 80,00,00,000 (Eighty Crores only) Equity Shares of Rs. 10/- each (Rupees Ten only) subject to the approval of the Shareholders.&lt;br/&gt;&lt;br/&gt;4. Bonus Issue - In order to commemorate the occasion of the Companys completion of fifteen years and crossing revenues of US$ 500 million, the Board of Directors at its meeting held on April 16, 2014, have recommended for the issue of Bonus Shares to the holders of Equity Share/s of the Company in the ratio of 1:1 (i.e. one Bonus Equity Share of Rs. 10/- each, for every one fully paid up Equity Share of Rs. 10/- each, held and on Stock Options of the Company under various plans) by increasing the existing Issued, Subscribed and Paid-up Share Capital of the Company subject to the approval of the Shareholders.
View all announcements for MINDTREE LTD. Source: BSE India