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| Exchange Disseminated Time | United Phosphorus Ltd has informed BSE that at the Annual General Meeting (AGM) of the Company held on September 27, 2001, the members voiced their concern over payment of dividend at 20% as recommended by the Directors.
The shareholders were of the opinion that it will be prudent on the part of the management to prune equity dividend to only 10%, considering the uncertain global economic scenario. The Company is facing liquidity problems and its subsidiary is not faring well, hence it is advisable to reduce the dividend to only 10%.
After discussing the above matter at length, the members have approved to reduce the dividend to only 10% (against 20% as recommended by the Board of Directors) and the resolution was passed accordingly.
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