Redington Limited Recommends Dividend for the Year Ended March 31, 2019, Payable on August 27, 2019; Announces Board Changes
May 22, 2019 at 05:03 pm IST
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Redington (India) Limited announced that at the meeting of board of directors held on May 22, 2019, it has recommended dividend of INR 3.30 per equity share (165% on the face value of INR 2 per equity share) for the year ended March 31, 2019. Dividend on its approval by the members at the upcoming AGM scheduled to be held on July 30, 2019, will be paid from August 27, 2019.
The company also announced that term of appointment of Mr. E. H. Kasturi Rangan as Whole Time Director of the Company expires on May 23, 2019, to focus on the new assignment, Mr. Kasturi Rangan stepped down from whole time director of the company. Upon the recommendation of the Nomination and Remuneration Committee, Mr. S.V. Krishnan, Chief Financial Officer of the Company is appointed as Whole time Director for a term of 3 years with effect from 22nd May 2019, subject to the approval of the members at the upcoming Annual General Meeting.
Redington Limited is an India-based technology solution provider company. The Company is engaged in the business of distribution of information technology, mobility, and other technology products besides supply chain solutions. The Company provides information technology solutions across cloud, technology, digital printing, and solar. Further, it is engaged in offering technology services, logistics services, business process solutions, and financial services. The principal activity of the Company is wholesale distribution of machinery, equipment, and supplies (Wholesale of computers, computer peripheral equipment, software, electronic and telecommunications equipment and parts). Its solution offerings include hyperconverged infrastructure, enterprise storage, storage visualization, fault tolerant solutions, and software-defined storage. It has a footprint in approximately 38 markets with over 290 international brand associations. The Company operates approximately 70 sales locations.