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NALCO pays Rs 84.22 crore dividend to Government |
The National
Aluminium Company Limited, (NALCO) has paid a dividend of Rs. 84.22 crore to the
Government of India for the year 2008-09. The cheque was presented to Union Minister
for Mines and Development of North Eastern Region, B. K. Handique by the CMD of
NALCO, A. K. Srivastava, here today. The Secretary, Ministry of Mines,. Shantha
Sheela Nair was also present on the occasion. The NALCO, a Navrathna public sector
undertaking of Ministry of Mines, has paid 50 per cent dividend for the year 2008-09.
Of the total 50 per cent dividend, interim at 35 per cent was paid earlier in
February, 2009 and the balance final dividend at 15 per cent has been paid this
month. Together, the dividend pay-out works out to Rs. 322.15 crore out of which
the Government share is Rs. 280.74 crore. The Government of India holds 87.15
per cent equity in the Company. The balance amount of Rs. 41.41 crore is disbursed
to other shareholders of the Company like banks, financial institutions and individual
shareholders. NALCO's profits for the 2008-09 took a knock with the near collapse
of metal prices after the global melt down. The profits reduced to Rs. 1,272 Crore
from Rs. 1,632 crore earned in the previous year. The volumes of production and
sale of its products remained almost at the same level as of previous year. The
Company has ambitious plans of growth in aluminium sector and for diversification
in other metal and power sector. Some of these growth projects are planned abroad. |
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