NALCO Declares 25 Percentage Interim; Pays Rs 261 Crore Dividend to Government

Narendra Singh Tomar, Minister of Steel & Mines, was presented a cheque, amounting to Rs 260.72 crore.

Published: 19th April 2016 03:47 AM  |   Last Updated: 19th April 2016 03:51 AM   |  A+A-

NEW DELHI: National Aluminium Company Limited (NALCO), the Navratna PSU, has declared an interim dividend of 25% (Rs 1.25 per share of Rs 5 each), amounting to Rs 322.16 crore for the financial year 2015-16, on the paid-up equity share capital of Rs 1,288.62 crore.

Narendra Singh Tomar, Minister of Steel & Mines, was presented a cheque, amounting to Rs 260.72 crore by Tapan Kumar Chand, CMD, NALCO, in the presence of Balvinder Kumar, Secretary, Ministry of Mines, as interim dividend on the 80.93% shares held by the Government here on Monday.

Praising the effective functioning of NALCO despite sluggishness in the market, he appreciated the company’s all-time high bauxite production of 63.40 lakh tonnes and 19.53 lakh tonnes of alumina in 2015-16.

NALCO, which started its commercial operations in 1987, has been earning profit consistently and has been declaring dividends since 1992. In 2014-15 fiscal, the company had declared a total dividend of Rs 451.02 crore.

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