ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Bonanza for Shareholders

Bonanza for Shareholders Hansavivek GOODYEAR INDIA made history when its board recommended a bonus issue on a one-for-one basis besides a total equity distribution of 47.5 per cent out of profits substantially lower than last year's and which actually left more than half the payment uncovered. The report does not say what prompted such extraordinarily generous treatment of its shareholders. The proposed gift shares will involve capitalisation of Rs 2.54 crores out of reserves and will rank fully for dividend from the current year. About two-thirds of the equity capital is owned by Goodyear Tire and Rubber of the US.

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