Mumbai, Aug 21: The board of Zee Telefilms Ltd (ZTL) has recommended 55 per cent dividend for the financial year 2002-03 involving a total payout of about Rs 23 crore. The board has also co-opted S P Talwar, former deputy governor of Reserve Bank of India, as additional director, ZTL informed the national stock exchange today.

The board at its meeting, held yesterday, accepted the resignation of D P Naganand as whole time director of the company. However, he would continue on the board as a non-executive director, it said.

The board also decided to convene an annual general meeting on September 26.

Bureau Report