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Non-Tech : ICICI Ltd - (Nyse: IC)
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To: Imran who wrote (77)2/7/2000 12:37:00 PM
From: Mohan Marette  Read Replies (1) of 494
 
Imran: The discrepancy between the two (ICd and IC) would come to an end when the dividends (if any) for fiscal 2000 are paid (fiscal 2000 ends on March 31 I think).The ticker, I believe, will merge soon after that, probably on the first trading day in April I would think.

The way it looks ICd shareholders are only eligible for a prorated portion of the yearly dividend- from Sept 27 to March 31, 00, Sept 27th being the date of issue of the ADS on NYSE. IC shareholders (representing delisted GDRs) are eligible for full payment of the dividend.

Dividend.

It may be noted that ICICI has declared and paid dividends since fiscal 1956. The dividend paid for fiscal 1999 was Rs. 5.50 for every equity share of the company of face value Rs. 10/- each. Each ADS represents five equity shares. Therefore in fiscal 1999, an ADS holder would have received US$ 0.63 per ADS (assuming an exchange rate of Rs. 43.50 per US$ 1.00).
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