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Saturday, Aug 26, 2006

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United Breweries to pay addl 7.5 pc

Our Bureau

Bangalore, Aug. 25

United Breweries Ltd has informed BSE that its board of directors at its meeting on Thursday has recommended payment of an additional dividend of 7.5 per cent on the equity share capital as on March 31, 2006. Including the interim dividend already paid at 15 per cent the total dividend outflow for the year ended March 31, 2006 will be 22.5 per cent post confirmation by the members at the annual general meeting to be held on September 19, 2006.

Further, the company has informed that, in view of the scheme of arrangement for amalgamation of Mangalore Breweries and Distilleries Ltd (MBDL) a subsidiary, into the company granted by the High Court of Karnataka, the board has authorised the committee of directors to allot equity shares of the company to the existing equity shareholders of MBDL in the ratio mentioned in the scheme.

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