Birla Power Solutions declares bonus in ratio 1:5

Birla Power Solutions Ltd has informed BSE that the Board of Directors of the Co
mpany at its meeting held on August 30, 2010, inter alia, has considered and tra
nsacted the following items: 1. Recommended payment of dividend at the rate of 7
.5 percent (i.e. Rs. 0.075 per share) for the financial year ended March 31, 201
0 on the existing paid up capital. 2. Approved, subject to the approval of the s
hareholders in the ensuing annual General Meeting, issue of bonus shares at the
rate of one fully paid bonus share of Re. 1/- each for every five existing share
s of Re. 1/- each by capitalizing permissible reserves standing in credit in res
erves as at March 31, 2010, to those shareholders standing in the Register of Me
mbers on a record date to be fixed by the Board. 3. Approved, subject to the app
roval of shareholders, increase in authorized capital from Rs. 300 crores to Rs.
425/- crores by creation of additional 125 crores equity shares of Re. 1/- each
.
Source : BSE