The Board of Directors of Videsh Sanchar Nigam Ltd (VSNL), at its meeting held in Mumbai on Friday, has recommended a special interim dividend of 750 per cent.
The dividend is subject to the condition that it is cleared by the competent authority since the amount involved is more than the up to date current year's profit and would need to be paid out of past profits. The special dividend has been recommended taking into account the investment plans of the company and expected profits. It was felt by the board that no serious financial problems are anticipated if the central government's proposal of special interim dividend of 750% is accepted. Bureau Report