Balmer Lawrie & Co dips on turning ex-dividend

The board has recommended a dividend @ Rs 28/- per equity share for the financial year ended March 31, 2012.

Balmer Lawrie and Company has dipped 6% to Rs 584 on turning ex-dividend today. The stock opened at Rs 616 and hit a low of Rs 578 on the National Stock Exchange. A combined 16,619 shares have changed hands on the counter so far on both the exchanges.

The board of directors of the company at its meeting held on May 26, 2012, has recommended a dividend @ Rs 28/- per equity share for the financial year ended March 31, 2012.

“The register of members & share transfer books of the company will remain closed from September 12, 2012 to September 26, 2012 (both days inclusive) for the purpose of payment of dividend & 95th Annual General Meeting (AGM) of the company to be held on September 26, 2012,” the company said in a filing.