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Deepak Nitrite has announced that the Board of Directors of the Company at its meeting held on 02 May 2014, inter alia, have recommended, subject to the approval of shareholders:
1. Dividend of Rs. 10/- (Rupees ten only) per equity share of face value of Rs. 10/- (Rupees ten only) each for the year ended 31 March 2014, on existing equity share capital.
2. Sub-division of equity share of the Company of face value of Rs. 10/- (Rupees ten only) each into 5 (five) equity shares of face value of Rs. 2/- (Rupees two only) each.
3. Issuance of Bonus Shares in the ratio of 1 (one) bonus equity share of face value of Rs. 2/- (Rupees two only) each fully paid up for every 1 (one) equity share of face value of Rs. 2/- (Rupees two only) each.
The dividend of Rs. 10/- (Rupees ten only) per equity share on face value of Rs. 10/- (Rupees ten only) each (pre sub-division and bonus), shall be equivalent to a dividend of Rs. 1/- (Rupee one only) per equity share on face value of Rs. 2/- (Rupees two only) per equity share (post sub-division and bonus).
Since the Record Date for the allotment of bonus shares and sub-division of shares will fall prior to the book closure date for the payment of dividend, the shareholders will be entitled to dividend of Rs. 1/- (Rupee one only) per share of face value of Rs. 2/- (Rupees two only) each (equivalent to dividend of Rs. 10/- per share of face value of Rs. 10/- each, pre-bonus and pre-sub-division), which shall be paid to shareholders whose name appears in the register of members as on the date of book closure for payment of dividend.
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