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| Exchange Disseminated Time 27/05/2016 17:47:37 | Excel Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2016, has transacted the following:
1. The Board of Directors have recommended a dividend of 90% amounting to Rs. 4.50 per equity share of Rs. 5/- each (Previous Year: Rs. 7/- per share including interim dividend of Rs. 3/- per share).
2. The Board of Directors of the Company reviewed and took on record the present status of the funds utilized and number of Equity Shares bought back under the ongoing Buyback Offer of the Company from the Open Market through the Stock Exchanges i.e. using the electronic trading facilities of BSE Limited and the National Stock Exchange of India Limited;
The Company has bought back 334938 equity shares utilizing Rs. 9,11,75,393.70 which is 50.65% of the maximum Buyback size i.e. Rs. 18 crores.
In view of the above the Board has decided to close the Buyback Offer with effect from May 30, 2016 (Close of market hours).
Further, he Board meeting commenced on 2.30 p.m. and concluded at 5.05 p.m. |
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