May 13th 2012, 21:43 SLG Sri Laxmi Ganapathi Vent.
by Pradeep Planer
Dividend payment raised by 60%Dear shareholders,
I still believe we as SLG did the best thing to move out from Lindex from which profits have stagnated. Of course there are other venues for L$ exchanges but with an associated "RISK".
Our investments into other stocks have faired well so far that even after an aggregated monthly dividend of 0.01L$/share (0.0025L$/share/week *4) is paid out dividend basket still stands tall inching towards 100KL$(97843L$).
In this regard, the board has approved a dividend raise from 0.0025L$/week/share to 0.004L$/week/share, which is a 60% raise.
Enjoy the dividend raise till L$ in the dividend basket drops to less than 25KL$ when the board decides on the future dividend payout. If the dividend basket still continues to stay strong and tall even after the increased payout, board may mull further increase. [keep fingers crossed, nothing can be guaranteed for tomorrow]
I as CEO also increased my stake in SLG to 33% which is paying me enough in dividends so there wont be any CEO salary until further notice.