The board of directors of Ratnamani Metals (Q, N,C,F)* & Tubes, at its meeting held on Jun. 19, 2008, recommended a dividend of 70%, or Rs 7.00 a share, of Rs 10 each subject to the approval of shareholders.

The board also recommended to sub-dividing the equity shares of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each with effect from the record date to be determined hereafter, subject to the approval of the shareholders.

Shares of the company were last trading down Rs 16.8, or 1.87%, at Rs 881.5. The total volume of shares traded at the BSE was 2,082. (2.29 p.m., Thursday)