Outcome of board meeting of Magma Fincorp

Held on 08 May 2015

Magma Fincorp announced that the Board of Directors of the Company at its meeting held on 08 May 2015, inter alia, has proposed, subject to the approval of the Shareholders at the Annual General Meeting dividend as under :

1. On Equity Shares @ 40% i.e. Re. 0.80 per Equity Share of the face value of Rs. 2/- each;

2. On Preference Shares:

a) 9.7 % i.e. Rs. 9.70 pro-rata per share dividend on 21,09,199 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 20/- each for the period from 01 April 2014 to 16 February 2015 (Both days inclusive), the shares were then redeemed on 17 February 2015;

b) 3.61% i.e. Rs. 3.61/- pro-rata per share dividend on 65,00,999 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 60/- each for a day i.e., 01 April 2014 and 3.61% i.e. Rs. 3.61 /- pro-rata per share dividend on 65,00,999 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 40/- each (reduced to Rs. 40/- upon redemption of 3rd installment of Rs. 20/- each on 02 April 2014) for the period from 02 April 2014 to 31 March 2015 (both days inclusive).

c) 12% i.e. Rs. 12/- per share dividend on 25,00,000 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 100 each;

d) 9.6% i.e. Rs. 9.60/- per share dividend on 10,00,000 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 100 each;

e) 0.50% i.e. 0.50 paise pro-rata per share dividend on 21,09,199 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 40/- each for the period from 01 April 2013 to 16 February 2014 (both days inclusive) and 0.50% i.e. 0.50 paise pro-rata per share dividend on 21,09,199 Cumulative Non-Convertible Redeemable Preference Shares of Rs. 20/- each (reduced to Rs. 20/- upon redemption of 4th installment of Rs. 20/- each per share on 17 February 2014) for the period from 17 February 2014 to 31 March 2014 (both days inclusive).

f) 11% i.e. Rs. 11/- per share dividend on 36,00,000 Cumulative Redeemable Non-Convertible Preference Shares of Rs. 100/- each.

Further, the 35th Annual General Meeting (AGM) of the Members of the Company will be held on August 01, 2015 and the dividend to be declared at the AGM shall be paid /dispatched on or before 30 August 2015.

Powered by Capital Market - Live News