BHUBANESWAR: Navratna PSU Nalco on Wednesday announced a record 115 per cent dividend payout amounting to Rs 1072.73 crore for 2018-19, which is an increase of 115 per cent from 114 per cent in 2017-18. It is the highest dividend payout since the inception of the Company in 1981, said Tapan Kumar Chand, CMD, Nalco, during its 38th annual general meeting on Wednesday.
“In 2018-19, dividend including the applicable dividend distribution tax worked out to a payout of 74.65 per cent of the Profit After Tax (PAT) against 98.81 per cent in the previous financial year. Until 2018-19 fiscal, Rs 32,886 crore was paid towards taxes, duties, royalties and dividend. Out of this, Rs 25,917 crore was paid to the Central Government and Rs 6,969 crore to the State Government,” he said.
Besides, Nalco posted highest-ever sales turnover and export earnings in 2018-19, while it earned highest ever PAT in the last 10 years. The company also achieved the best performance in a decade with Rs 1,732 crore net profit, a growth of 29 per cent over the previous year. The CMD attributed the success to teamwork, strong cost focus and strategic planning.
“The year 2018-19 has been an extremely rewarding year for Nalco on all fronts. We have not only excelled in making production, profit, productivity and people engagement but have also made an exemplary contribution in promoting and putting the focus on nature, nurture and future,” he said.