Kavveri Telecom Products has informed that the board of directors of the company at its meeting held on May 30, 2012, have recommended final dividend of Rs 4 per equity share (i.e. 40% on equity share of face value Rs 10 each fully paid up), subject to approval of the members at their annual general meeting and considered and approved setting up of a subsidiary in USA to acquire companies in USA.
Further the board authorized C Shiva Kumar Reddy, managing director and William R McBride, executive vice president (acquisitions and strategic relationships) to take necessary steps required to complete this incorporation.
The above information is part of company’s filing submitted to the BSE.
