High quality superior yarn maker Shiva Texyarn Ltd informed that the company decided to pay 10 percent dividend to the shareholders for the year ended March 31, 2005.
The 24th Annual General Meeting (AGM) of the shareholders took a decision in this regard; the Coimbatore-based non-banking finanace company informed the stock exchanges.
The AGM also approved the appointment of S V Alagappan as managing director for a period of five years with effect from June 27 last, it said.
The AGM also re-appointment of A Senthil and C Sivasamy as directors of the company, it said.
The share price of the company registered a 6.57 percent increase at Rs 47.05 at the close of trading hours on the BSE.
With a spindlage of over 37,344, Shiva Texyarn has a production capacity of 15 tons a day. 100% Cotton yarn for knitting is a major area of specialization.
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