Mahindra Lifespace Developers Limited has informed the Exchange that the Board of Directors at its meeting held on April 24, 2009 have recommended dividend as under :- 1) 10.50% on 1,000,000 Non-Cumulative Redeemable Preference Shares of Rs. 100 each; 2) 25% on 40,809,150 Equity Shares of Rs. 10 each.