Geojit announces 70 per cent dividend

Kochi, July 26 (UNI) Geojit Financial Services today approved a 70 per cent dividend for 2007-08, amounting to a payout of Rs 17.11 crore, compared to a dividend payment of 40 per cent in the previous year.

The dividend was approved at the Annual General Meeting (AGM) of the company, presided over by Chairman A P Kurian, here.

The meeting re-elected renowned investor Rakesh Jhunjhunwala and Mr R Bupathy, former President of the Institute of Chartered Accountants of India, as directors of the company.

Mr Kurian said the company had posted a 133 per cent increase in net profit to Rs 58.66 crore and consolidated revenues went up by 76 per cent to Rs 239.73 crore.

Barjeel Geojit Securities, Geojit's joint venture in UAE, recorded a growth of 150 per cent in its net profit for the same period, he added.

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