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Kolkata March 19 The board of directors of Emami Ltd, at its meeting here on Saturday last, has declared 100 per cent as interim dividend and 50 per cent as special dividend (making total dividend of 150 per cent) on equity shares of Rs 2-each of the company for the financial year 2006-07.

Further, the Board has also approved creation of a wholly owned subsidiary — Emami Realty Pvt Ltd — for its additional foray into the real estate business. The company is already engaged in the realty business, and the new set-up was expected to drive this business to new heights. It is learnt that the new company may be set up sometime in April.

Asked for his comments, Mr Aditya Agarwal, Director, Emami Group, said the company was now in a good position to enter the real estate segment. Asked if the large South City project may come into the fold of this proposed new project, he replied in the negative.

More Stories on : Dividend Announcement | Diversification | Cosmetics | Real Estate & Construction

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