Moneycontrol
Dec 05, 2017 12:07 PM IST | Source: Moneycontrol.com

Fiberweb India gains 2% on bonus share approval

The board has declared interim dividend at 5 percent per share (50 paise per share).

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Shares of Fiberweb India added more than 2 percent intraday Tuesday as board recommends bonus issue.

The company at its meeting held on December 05 has recommends issue of bonus shares in the ration of 1:1, subject to the approval of the members of the company in the extraordinary general meeting.

The bonus shares will be issue to the members of the company by capitalisation of its reserves in the ratio of one bonus equity share of Rs 10 each fully paid-up for every one existing equity share of Rs 10 each fully paid-up held by the members as on a record date to be fixed hereafter for the purpose.

The board has declared interim dividend at 5 percent per share (50 paise per share).

The extraordinary general meeting of the company is scheduled to be held on January 8, 2018.

graph_fiberweb

At 11:58 hrs Fiberweb India was quoting at Rs 325, up Rs 3.95, or 1.23 percent on the BSE.

Posted by Rakesh Patil
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