The members at the annual general meeting (AGM) of Binani Cement (Q, N,C,F)* declared a dividend of 20%, or Rs 2.00 a share, of Rs 10 each for the year ended Mar.31, 2007.
The above stated dividend was recommended by the members at its meeting held on Jul. 02, 2007.
Kolkata-based cement maker Binani Cement posted net profit of Rs 506.7 million on sales of Rs 1,956.2 million for the quarter ended June 2007. Total income for the quarter stood at Rs 1,974.1 million, while EPS stood at Rs 2.49.
The company had entered the capital markets in May 2007 with an initial public offering (IPO) of 20.5 million shares in the price band of Rs 75 to Rs 85 a share.
