Venkys India recommends lower dividend

Mumbai, May 12: The Board of Directors of Venkys India Ltd. has recommended a dividend of Rs 2 per equity share or 20 per cent as against the previous year's Rs 3.50 per equity share or 35 per cent for FY 06.

In a communique to the Bombay Stock Exchange (BSE), the company stated that this is, however, subject to approval of shareholders at the ensuing annual general meeting of the company.

The communique further stated that Dr G V K Rao, director of the company, has resigned from the Board with effect from May 12, 2006.

UNI