Nava Bharat Ventures Ltd: Board recommends Dividend

Nava Bharat Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2011, inter alia, has recommended dividend on Paid-up Equity Capital @ Rs. 6 per each equity share of Rs. 2/- each absorbing a sum of Rs. 51.28 crores apart from Corporate Dividend Tax of Rs. 8.32 crores for the year 2010-2011 (previous year Rs. 9/- per each equity share absorbing a sum of Rs. 64.25 crores towards Equity Dividend apart from Corporate Dividend Tax of Rs. 10.67 Crores). The Dividend, subject to the approval of shareholders, will be paid / dispatched to the shareholders on or after August 05, 2011.