NALCO pays Rs. 260.72 crore as interim dividend to Indian Goverment

Heartbeat

NALCO pays Rs. 260.72 crore as interim dividend to Indian Goverment

National Aluminium Company Limited (NALCO), a Navratna PSU under the Ministry of Mines, Govt. of India, has declared an interim dividend of 25%, i.e. Rs.1.25 per share of Rs.5 each, amounting to Rs.322.16 crore for the financial year 2014-15, on the paid-up equity share capital of Rs.1288.62 crore. Narendra Singh Tomar, Union Minister of Steel & Mines, Govt. of India, was presented a cheque, amounting to Rs.260.72 crore by Ansuman Das, Chairman-cum-Managing Director as interim dividend on the 80.93% shares held by the Govt of India, in New Delhi today. The interim dividend amount of Rs 322.15 crore paid for 2014-15 equals the highest ever interim dividend paid during 2006-07. Dr Anup K Pujari, Secretary, R Sridharan, Addl. Secy, Arun Kumar, Joint Secretary, Dr Niranjan Kumar Singh, Joint Secretary of Ministry of Mines and all the Directors of NALCO were present on the occasion.

NALCO, which started its commercial operations in 1987 has been earning profits consistently and has been declaring dividends since 1992. In the last fiscal i.e for the 2013-14, the company had declared a total dividend of Rs.386.59 crore. It may be mentioned that since inception, NALCO has paid a total of Rs.5228 crore as dividend including Rs.4995 crore as share of Govt. of India.

Your Point of View