FAG Bearings' Board Recommends 40% Dividend

FAG Bearings India announced that the board of directors of the company at its meeting held on Feb. 14, 2008 recommended dividend at Rs 4 a share (i.e. 40%).

The company`s earnings jumped 52.06% for the quarter ended December 2007. During the quarter, the company`s earnings increased to Rs 214.10 million, or Rs 12.89 a share, compared with Rs 140.80 million, or Rs 8.48 a share, a year ago.

The net sales for the quarter increased 29.02% to Rs 1,475.30 million compared with Rs 1,143.50 million, a year ago.

Shares of the company declined Rs 5, or 0.9%, to settle at Rs 550. The total volume of shares traded was 281 at the BSE.

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