Adani Ports board approves share buyback at Rs500/share

The board also, recommended final dividend at 10% per equity share of Rs2 each for the financial year ended March 31, 2019 subject to the approval of the shareholders at the ensuing Annual General Meeting.

Jun 04, 2019 09:06 IST India Infoline News Service

Adani Port
Adani Ports and Special Economic Zone said in the filing on Tuesday that the company board has approved the proposal for the buy-back by the company of up to 3.92cr equity shares from the equity shareholders of the company as on June 21, 2019, at a price of Rs500 per equity share for an aggregate amount not exceeding Rs1,960cr.

The board also, recommended a final dividend at 10% per equity share of Rs2 each for the financial year ended March 31, 2019 subject to the approval of the shareholders at the ensuing Annual General Meeting.

Adani Ports & Special Economic Zone Ltd is currently trading at Rs425.75, up by Rs1.85 or 0.44%, from its previous close of Rs423.90 on the BSE.

The scrip opened at Rs423.80 and has touched a high and low of Rs429.60 and Rs417.65, respectively.

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