The National Aluminium Company limited (Nalco) has once again brought cheer to the stock market by declaring record dividend payout of Rs 1,102 crore, an increase from 56 per cent in 2016-17 to a whopping 114 per cent in 2017-18, which works out to Rs 5.70 per equity share of Rs 5 each.
This is the highest dividend payout announced since the PSU’s inception in 1981. The total payout, including dividend distribution tax, works out to Rs 1,326.06 crore as against Rs 651.40 crore in the last fiscal. The Nalco shareholders approved the dividend payout in the 37th annual general meeting held here on Wednesday.
For the year, dividend payment, including dividend distribution tax, works out to 98.78 per cent of net profit. The company has paid a total of Rs 7,273.59 crore as dividend, including Rs 5918.39 crore as share of the Central Government. The company also recorded the highest net profit of Rs 1,342 crore compared to any year during the last 10 years. It had posted Rs 669 crore as net profit previous year. Besides, the company registered highest-ever turnover of Rs 9,376 crore since inception, registering a growth of 26 per cent over last year. Export earning of Rs 4,076 crore is also recorded as the highest ever since inception.
“The new business plan has set the Nalco on a growth path. The results are starting to show. The record dividend payout is a result of the commitment our stakeholders have in the growth-oriented approach adopted by the company. The latest results can only augur well for the Nalco as we look to scale greater heights in our quest for excellence in inclusive growth and spreading happiness among people,’’ said CMD Dr Tapan Kumar Chand.