Post IPO, Aries Agro declares interim dividend

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Mumbai, May 29: Aries Agro Limited (AAL) that went public this year, has announced an interim dividend of 12 per cent (Rs 1.20 per share) of Rs 10 each for the financial year 2007-08.

All the shareholders of the Company as on the record date of June 14 2008 will be eligible for the interim dividend payment, the Company said. Commenting on the announcement, AAL Joint Managing Director Dr Jimmy Mirchandani said, ''We are proud to announce our interim dividend, based on the healthy cash from operations and growing profitability of the Company.'' The Company recently inaugurated a micro-nutrients manufacturing unit at Hyderabad, with an investment worth Rs 245 lakh. The future prospects of our niche plant for nutrient business look very positive, he said.

In the fiscal year 2008-09, it plans to set up new manufacturing units at Ahmedabad, Lucknow and Maharashtra.


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