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Unitech declares 1:1 bonus, 25% dividend

Unitech declares 1:1 bonus, 25% dividend
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First Published: Tue, Jul 31 2007. 08 15 PM IST
Updated: Tue, Jul 31 2007. 08 15 PM IST
PTI
Mumbai: Country’s second-biggest realty firm in terms of market value, Unitech Ltd on 31 July announced a bonus issue of shares in the ratio of 1:1 and a dividend of 25% on equity shares of Rs2 each.
The shareholders at the Annual General Meeting (AGM) approved the proposal for bonus issue and dividend, the Gurgaon-based company said in a communique to the Bombay Stock Exchange.
The company decided to increase the authorised share capital to Rs500 crore from Rs210 crore at present, it said.
The realty firm said it had also received shareholders’ approval to cancel 1 million preferential shares of Rs100 each and to raise the ceiling of portfolio investment in the company.
The company on 30 July reported a near five-fold increase in its first quarter net profit this fiscal to Rs347.83 crore from Rs73.92 crore in the corresponding period last year.
Total income on standalone basis rose to Rs788.73 crore during April-June 2007-08 from Rs306.21 crore in the same quarter of last fiscal.
On consolidated basis, first quarter net profit stood at Rs365.67 crore on a total income of Rs899.67 crore, the company said.
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First Published: Tue, Jul 31 2007. 08 15 PM IST