Financial Daily from THE HINDU group of publications
Friday, Mar 05, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 05, 2004 |
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Corporate
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Bonus Announcements Marico mulls bonus issue again Our Bureau
Mumbai , March 4 MARICO Industries Ltd is looking at a bonus issue once again, having offered a 1:1 bonus share offering in mid-2002. News of the bonus issue drove Marico's share price higher by 20 per cent to Rs 291.60 during the session on Thursday on BSE but edged down to end at Rs 279.90. The board meets on March 15 to consider an issue of bonus shares, third interim dividend for the year 2003-'04 and early redemption of 8 per cent redeemable preference shares. According to company officials, Marico is offering an interim dividend for the 12th time in a row. The company also plans to offer an early redemption of its 8 per cent redeemable preference shares. In October 2002, Marico issued bonus redeemable preference shares in the ratio of one fully paid-up preference share of face value of Rs 10 for every one equity share held in the company. The redemption of these shares was to be done before October 1, 2005.
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