Tata Sponge Iron Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has recommended a dividend of 70% (Rs 7/- per share) on 1,54,00,000 equity shares of the Company for the year ended March 31, 2008. The cash outflow on account of dividend will be Rs 1078 lakh and for tax on distributed profit will be Rs 183.21 lakh.
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