The National Aluminium Company limited (Nalco) has declared an interim dividend of 25 per cent, 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 1,288.62 crore.
Union Minister of Steel & Mines Narendra Singh Tomar was presented a cheque amounting to Rs 260.72 crore by Nalco CMD Dr Tapan Kumar Chand in the presence of Mines Ministry Secretary Balvinder Kumar as interim dividend on the 80.93 per cent shares held by the Government of India in New Delhi in Monday.
Tomar had a word of praise for the Nalco’s effective functioning despite sluggishness in the market. He was particularly 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. Ministry Additional Secretary R Sridharan and Nalco Director (Finance) KC Samal were notably present on the occasion.
The Nalco, which started its commercial operations in 1987, has been earning profits consistently and declaring dividends since 1992. In 2014-15, the company had declared a total dividend of Rs 451.02 crore. It may be mentioned that since its inception, the company has paid a total of Rs 5,679 crore as dividend including Rs 4,860 crore as share of Government of India.