VIP Industries Board recommends dividend

VIP Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 04, 2007, inter alia, has recommended a dividend of Rs 2.50 per equity share for the year 2006-07.

Further the Company has informed that, the Board has approved in-principle the proposal for amalgamation of Aristocrat Luggage Ltd and Quality Plastics Ltd with the Company and has constituted a Committee of Directors for assessing the feasibility, appointment of Valuers, recommendation of Share Exchange Ratio etc.

At the current price of 99 a dividen of 2.50 would mean a gain of 2.5% in a single day hence one can buy it before the record date and sell it after that and have a handsome gain of 2.5%.