By Lily Bearings
©2004-2008
Zhejiang Tianma Bearing Co., Ltd.(TMB) announced that its Board of Directors has approved the yearly cash dividend of RMB 0.1 per share (before tax) for the year ended December 31, 2008.
The Company will also use additional paid in capital to issue new shares to shareholders, with a ratio of every 10 shares to be given 10 new shares. The Company also announced that it and its subsidiaries plans to apply for banks for totally up to RMB 1.6 billion comprehensive credit line with a term of one year for fiscal 2009.