Odisha Channel Bureau
Bhubaneswar: National Aluminium Company Limited (Nalco) has paid 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.
Narendra Singh Tomar, Union Minister of Steel & Mines was presented a cheque, amounting to Rs.260.72 crore by Tapan Kumar Chand, CMD of Nalco in the presence of Balvinder Kumar, Secretary, Ministry of Mines, as interim dividend on the 80.93% shares held by the Government of India in New Delhi on Monday.Union Minister 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.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 Government of India.