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Hyderabad, July 8

The board of directors of Suryalata Spinning Mills Ltd has decided to withdraw the proposal for recommendation of dividend. The decision was taken keeping in mind the market conditions that had badly affected the company’s financial performance, the company informed the Bombay Stock Exchange on Tuesday. The board meeting was held on June 25. “Keeping in view the current year profits and trends in the market, the board has decided not to recommend dividend on eq uity shares and also on the cumulative redeemable preference shares for the financial year ended March 31, 2008,” it said.

—Our Bureau

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