30th-May-2012 20:36Source: BSE

Jaiprakash Asso - Board recommends Dividend

Jaiprakash Associates Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2012, inter alia, has :

1. Recommendation of Dividend :

- The Board has, subject to the approval of the shareholders, recommended Dividend for the Financial Year 2011-12 @ Re. 0.50 per equity share of Rs. 2 (i.e. 25%) aggregating Rs. 106.32 Crores excluding Dividend Distribution Tax of Rs. 17.25 Crores.

2. Raising of Resources :

- The Board has decided to raise funds / resources to the tune of USD 500 million through FCCBs / ECB etc. subject to the requisite approvals including that of the shareholders.

3. Resignation of Shri M. S. Srivastava :

- The Board has noted that Shri M. S. Srivastava has resigned from the Directorship of the Company with effect from May 25, 2012.