Vaarad Ventures Ltd: Board recommends Dividend & approves Sub-division of equity shares

Vaarad Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2011, inter alia, has transacted the following business:

1. Recommendation of dividend of Rs. 0.10 per share i.e. 5% on Equity Shares of Rs. 2/- each, for the year ended March 31, 2011 (previous year: Rs. 0.10 per share). The dividend will be paid after the approval of the shareholders at the forthcoming Annual General Meeting.

2. Board approved the Sub-division of equity shares of Rs. 2/- each into Rs. 1/- each Equity Shares, subject to the approval of the shareholders at the forthcoming Annual General Meeting.