IFGL Refractories approves 5% dividend
IFGL Refractories Ltd, a leading manufacturer of specialized Refractories, has approved a 5% dividend on its audited financial results, both on stand-alone and consolidated basis, for the year ended on 31st March, 2011.
Earning per share on consolidated basis is Rs 6.63 compared to Rs 9.91 for previous year ended on 31st March, 2010.
Profit before Tax and Profit after Tax are lower than those of previous year because of affect of extra-ordinary macro economic factors faced by the Company, which have largely tapered in fourth quarter ended on 31st March, 2011 and thus substantially improved performance for said quarter.
In view thereof and that said trend is likely to continue, the Board recommended payment of Dividend at the rate of 5% i.e. Rs. 0.50 per Equity Share of Rs. 10/- for financial year 2010 – 2011 following Company?s Dividend Distribution Policy.
The Board of Directors also appointed Debal Banerji, a Senior Advocate practising in the Supreme Court of India, as an Additional Director with immediate effect.
