Aban Offshore Board recommends dividend of 180%

Aban Offshore Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2008, inter alia, has recommended preference dividend of 8% per annum on 8% cumulative non convertible redeemable preference shares of Rs 10/- each and recommended preference dividend of 9% per annum on 9% cumulative non convertible redeemable preference shares of Rs 10/- each.The Board has recommended an Equity dividend of 180% (Rs 3.60 per fully paid share and Rs 1.80 per partly paid shares) for the year 2007-08.The stock closed the day at Rs.2658.95, down by Rs.18.85 or 0.70%. The stock hit an intraday high of Rs.2725 and low of Rs.2635.The total traded quantity was 37969 compared to 2 week average of 66145.