Wednesday, March 28, 2012

NALCO Pays Rs. 202 Crore as Interim Dividend to Government 

 National Aluminium Company Limited (NALCO), the Navratna PSU, under the Ministry of Mines, Govt. of India, has declared an interim dividend of 18%, i.e. Rs.0.90 per share of Rs.5 each, amounting to Rs.231.95 crore for the financial year 2011-12, on the paid-up equity share capital of Rs.1288.62 crore. Shri Dinsha J. Patel, Union Minister of State (Independent Charge), Ministry of Mines, was presented a National Electronic Clearing Service (NECS) advice amounting to Rs.202.14 crore as interim dividend on the 87.15% shares held by the Govt of India, in New Delhi today. From Ministry of Mines, Govt of India, Shri Vishwapati Trivedi, Secretary and from NALCO, Shri B.L. Bagra, CMD 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. For the year 2010-11, the company had declared a total dividend of Rs.257.72 crore. The company had earned a net profit of Rs.1069 crore during the year 2010-11. During the current financial year 2011-12, the company has earned a net profit of Rs.567.40 crore up to December 2011. The 18% interim dividend is being paid on enlarged capital base after split and bonus issue last year. 

 Since its inception, NALCO has paid Rs.4171.25 crore as dividend including Rs.3637.16 crore to Govt. of India. In addition, the company had also repaid an amount of Rs.644.31 crore to its shareholders during 1999 by reducing the capital base by 50%.

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