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NALCO PAYS Rs.260.72 CRORE INTERIM DIVIDEND TO GOVERNMENT

calender18/04/2016

Bhubaneswar, 18/04/2016: National Aluminium Company Limited (NALCO), the Navratna PSU, under 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 2015-16, on the paid-up equity share capital of Rs.1288.62 crore. Mr. Narendra Singh Tomar, Union Minister of Steel & Mines, Govt. of India, was presented a cheque, amounting to Rs.260.72 crore by Dr. Tapan Kumar Chand, CMD, NALCO, in the presence of Mr. Balvinder Kumar, Secretary, Ministry of Mines, as interim dividend on the 80.93% shares held by the Govt of India, in New Delhi today. The Union Minister Mr. Tomar had a word of praise for the effective functioning of NALCO despite sluggishness in the market. Particularly, he was appreciative of the company’s all-time high bauxite production of 63.40 lakh tonnes and 19.53 lakh tonnes of alumina in 2015-16.

From the Ministry, Mr. R. Sridharan, Addl. Secretary, Mr. N.B. Dhal, Joint Secretary and from NALCO, Mr. K.C. Samal, Director (Finance) were notably 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 2014-15 fiscal, the company had declared a total dividend of Rs.451.02 crore. It may be mentioned that since inception, NALCO has paid a total of Rs.5679 crore as dividend including Rs.4860 crore as share of Govt. of India.