Home ECONOMY NALCO pays interim dividend of Rs 546.95 cr to Centre

NALCO pays interim dividend of Rs 546.95 cr to Centre

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Bhubaneswar:The National Aluminium Company Limited (NALCO) has paid Rs 546.95 crore as interim dividend to the Union government, an official said on Monday.

NALCO Chairman-cum-Managing Director Tapan Kumar Chand gave a cheque of Rs 546.95 crore as interim dividend to Union Mines Minister Narendra Singh Tomar in the presence of Minister of State for Mines Haribhai Parthibhai Chaudhary.

The Navratna PSU has declared an interim dividend of Rs 908.48 crore for the financial year 2017-18, on the paid-up equity share capital of Rs 966.46 crore, said an official statement.

This is the highest dividend so far declared by the company since inception.

Tomar appreciated the dedicated efforts of Chand and his team for the effective functioning of NALCO and five-fold increase in profit in the third quarter of the current financial year.

Since inception, NALCO has paid a total of Rs 7,273.59 crore as dividend including Rs 5,918.39 crore as share of the Union government.(IANS)