Nalco Pays Rs 260 Crore Dividend

Published: 19th April 2016 05:29 AM  |   Last Updated: 19th April 2016 05:29 AM   |  A+A-

BHUBANESWAR: The National Aluminium Company Limited (Nalco) on Monday paid Rs 260.72 crore as interim dividend to the Government of India.

CMD of Nalco Tapan Kumar Chand presented the cheque to Union Minister of Steel and Mines Narendra Singh Tomar at New Delhi in this connection.

The Navranta PSU had earlier declared an interim dividend of 25 per cent amounting to Rs 322.16 crore on the paid-up equity share capital of Rs 1,288.62 crore for the financial year 2015-16. The Rs 260.72 crore was towards the interim dividend on 80.93 per cent shares held by the Centre. Secretary, Ministry of Mines Balvinder Kumar was also present.

The Union Minister praised Nalco’s performance despite sluggishness in the market. He lauded the company’s all-time high bauxite production of 63.40 lakh tonne and 19.53 lakh tonne of alumina during 2015-16.

Starting its commercial operations in 1987, Nalco has earned profits consistently, declaring dividends since 1992. During 2014-15 fiscal, the PSU had declared a total dividend of Rs 451 crore. It has paid a total of Rs 5,679 crore as dividend, including Rs 4,860 crore as share of Government of India, since its inception.

Additional Secretary R Sridharan, Joint Secretary NB Dhal and Director (Finance) of Nalco KC Samal were also present.

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