Financial Daily from THE HINDU group of publications
Friday, Apr 11, 2003
Financial Daily from THE HINDU group of publications Friday, Apr 11, 2003 |
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RBI & Other Central Banks Corporate - Bonus Announcements RBI nod for HLL bonus debenture Our Bureau
MUMBAI, April 10 HINDUSTAN Lever Ltd has received the approval of Reserve Bank of India for the issue and allotment of bonus debentures and payment of special dividend. The company said this was the last approval and final step required to implement the scheme. It had sought RBI's approval in December 2002 under the provisions of FEMA 1999. The board of directors of HLL had in a meeting on January 29, extended the date of implementing the scheme to September 30. The board will fix the record date in consultation with the lead stock exchanges on which HLL shares are listed for deciding the entitlement of bonus debentures and special dividend, when it meets on April 16. Under the scheme of arrangement, shareholders will be issued one bonus debenture of Rs 6 per share of Re 1 each and a special dividend of Rs 2.76 per share.
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