Ennore Port Ltd. Pays Rs.7.41 Crore Dividend to Government
The Union Minister of Shipping Thiru G.K.Vasan has received a dividend cheque of Rs. 7.41 crores from Ennore Port Limited (EPL) for the Financial year 2010-11 in Chennai today. The dividend Cheque was presented to the Hon’ble Minister by Thiru S.Velumani, Chairman cum Managing Director of Ennore Port Ltd. EPL has been paying dividend to Government from the Financial year 2008-09 and hence this is the third dividend payment to Government.
During the Financial Year ended 31st March 2011, Ennore Port Ltd. has reported pre and post tax profit of Rs.69.86 crores and Rs.55.58 crores respectively as against Rs.59.46 crores and Rs.48.66 crores respectively reported in the previous year. EPL has declared dividend of 20% on Post Tax Profit which works out to Rs.11.11 crores as against Rs.9.73 crores paid as dividend in the previous year 2009-10. Government of India gets Rs.7.41 crores and Chennai Port Trust gets Rs.3.70 crores as dividend from EPL. The Dividend Tax will be Rs.1.85 Crores. The total cash outflow including dividend tax is Rs.12.96 crores as against Rs.11.39 crores paid in 2009-10.
Ennore Port is the only Major Port which is paying Dividend to Government as it is a Corporate Port.
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