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India's Capital First raises dividend

India-based Capital First Ltd raised its dividend for the fiscal year ended March 31.

The company said May 4 that its board recommended a dividend of 2.80 rupees per share, up from 2.60 rupees per share in the prior-year period.

The dividend is subject to shareholders' approval.

As of May 4, US$1 was equivalent to 66.86 Indian rupees.