Kochi: The director board of the Cochin International Airport Limited (Cial) on Saturday decided to disburse 1.4 crore shares to the existing shareholders on a 1:1 basis.
The board has also decided to put a cap of 2,000 shares to be distributed to each shareholder, said a Cial source. Cial currently has 9.4 crore of unsubscribed shares and the 1.4 crore to be disbursed will form part of this.
Cial was likely to go public with the remaining 8 crore shares later, the sources said.
The airport has achieved a turnover of Rs 307 crore in 2012-13 compared to Rs 275 crore in the previous year. The company made a profit of Rs 112 crore last year marking a marginal rise from Rs 102 crore achieved in 2011-12.
The director board has recommended a dividend of 17% subject to the approval of the annual general meeting to be held on September 7.
30/06/13 T Ramavarman/Times of India
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The board has also decided to put a cap of 2,000 shares to be distributed to each shareholder, said a Cial source. Cial currently has 9.4 crore of unsubscribed shares and the 1.4 crore to be disbursed will form part of this.
Cial was likely to go public with the remaining 8 crore shares later, the sources said.
The airport has achieved a turnover of Rs 307 crore in 2012-13 compared to Rs 275 crore in the previous year. The company made a profit of Rs 112 crore last year marking a marginal rise from Rs 102 crore achieved in 2011-12.
The director board has recommended a dividend of 17% subject to the approval of the annual general meeting to be held on September 7.
30/06/13 T Ramavarman/Times of India
