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NALCO Announces Dividend of Rs. 451 crore for 2014-15

calender26/09/2015

Bhubaneswar, 26.09.2015:  In the 34th Annual General Meeting held here today, the shareholders of National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Govt. of India, have approved a total dividend payout of 35%, which works out to Rs.1.75 per share. The total payout is Rs.451.02 crore for 2014-15. Since inception, NALCO has paid a total of Rs.5356.76 crore as dividend, including Rs.4598.99 crore as share of Govt. of India.

In his address to the shareholders, Mr. T.K. Chand, CMD, NALCO highlighted the performance of the company and outlined its growth plans. According to Mr. Chand, at this stage, NALCO is targeting to be a global player in the mining, metal and energy sectors. Towards this realization, the company has plans to increase the existing metal production, alumina production and raise bauxites & coal.

“Our action plan includes, increasing the volume of production, go for expansion and modernization of our plants and diversification of products. Further, our target is to increase our networks in the domestic as well as in the international market. A flexible plan is envisaged, which takes into account the market uncertainties of future,” Mr. Chand said.

“While we have got the much-awaited and much-needed allocation of Utkal D and E Blocks, we are looking forward for consent of State Govt. for allocation of Pottangi Mines in Koraput District so that Alumina Refinery Project of Rs.5,500 crore can immediately start,” Mr. Chand said on the sidelines of the AGM.