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GIC Re declares dividend, to issue bonus shares

The board of General Insurance Corp. of India declared a dividend of 13.5 rupees per equity share for the fiscal year ended March 31.

Subject to shareholder approval, the dividend's record date is July 14, according to a May 25 stock exchange filing.

The company also recommended to issue bonus shares in the ratio of one bonus share for one existing equity share to shareholders, subject to approval.

As of May 25, US$1 was equivalent to 67.80 Indian rupees.