IFL Enterprises board approves dividend

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, IFL Enterprises has informed that the Board of Directors of the Company at their Meeting held on Wednesday, 01st November, 2023 at the Corporate Office of the Company have considered and approved the following matters: The board has declared an Interim Dividend at 0.01% i.e., 1 paisa per Equity Share of face value of Re 1 each for the Financial Year 2022?23 for the Financial Year 2023- 2024. The record date for the purpose of payment of Interim Dividend is fixed as Friday, November 17, 2023. The said interim dividend will be paid within 30 days from the date of declaration as per the provisions of Companies Act, 2013 to those shareholders whose names appear in the Register of Members/ Beneficial Owners of the Company as on the Record Date i.e., November 17, 2023. The Board considered and recommended a bonus issue in the ratio of 1:5 i.e., 1 (One) New Bonus Equity Share for every 5 (Five) existing fully paid-up Equity Shares of Rs 1 each, subject to approval by the members and any other applicable statutory and regulatory approvals through postal ballot. Further, the bonus shares will be credited to those members who are holding the equity shares as on a Record Date i.e., November 17, 2023. The details pursuant to Regulation 30 read with Schedule-III of the Listing Regulations and SEBI Circular No. CIR/ CFD/CMD/4/2015 dated 9th September, 2015 is enclosed as Annexure - A. The board has discussed the matter & conclude that this collaboration in business can lead to a wide range of positive outcomes, benefiting organizations in various ways. This collaboration encompasses the supply of paper products and a strategic partnership to explore opportunities in the paper & paper products market. The board has discussed the proposal for buy-back & believe that the available funds could be better utilized in other strategic investments, such as capital expenditures, expanding into new markets, which offer a higher potential for long-term growth strategy. Therefore, board of directors will discuss their decision to offer buy back to the shareholders of the company in next AGM. The meeting of the Board of Directors commenced at 10:00 am and concluded at 10: 45 am. The above information will also be available on the website of the Company at www.iflenterprises.com

The above information is a part of company’s filings submitted to BSE.