Jyoti Structures Ltd: Board recommends Dividend

Jyoti Structures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2011, inter alia, has transacted the following:

1. Recommended that, subject to the approval of the shareholders, the retiring auditors of the company, namely, M/s. R. M. Ajgaonkar & Associates, Chartered Accountants be reappointed to hold office from the conclusion of the 36th Annual General Meeting of the company until the conclusion of the 37th Annual General Meeting;

2. Decided to recommend Dividend of Rs. 1.10 and a Special Dividend of Re. 0.40 per equity share of face value of Rs. 2 each for the year ended March 31, 2011 to those shareholders whose names appear on the register of members, subject to approval of the shareholders at the Annual General Meeting;

3. Subject to approval of shareholders of the Company, considered to pay remuneration to the Non-Executive Directors or some or any of them (other than Managing Director Whole-time Directors) not exceeding one percent of net profit of the Company for each of the 5 financial years of the company commencing from April 01, 2011.