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Mumbai , Sept 30

PIONEER Embroideries Ltd's shareholders have approved 20 per cent dividend or Rs 2 per equity share for the year ended March 31.

They have also okayed a bonus issue of one fully paid equity share of Rs 10 each for every two equity shares held. The board of directors have been authorised to raise funds by way of issuing up to 70 lakh shares or through the issue of foreign currency convertible bonds or global depository receipts not exceeding $20 million.

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