The Nalco has declared an interim dividend of 56 per cent, i.e. Rs 2.80 per share of Rs 5 each, amounting to Rs 541.22 crore for the financial year 2016-17, on the paid-up equity share capital of Rs 966.46 crore. This is the highest-ever dividend declared by the company since inception.
Union Minister of Power, Coal, New and Renewable Energy and Mines, Piyush Goyal was presented a cheque amounting to Rs 403.62 crore by Nalco CMD Dr Tapan Kumar Chand in New Delhi on Tuesday in the presence of Union Mines Secretary Arun Kumar and Joint Secretary Subhash Chandra as the interim dividend on the 74.58 per cent shares held by the Government of India.
Goyal appreciated the effective functioning of Nalco despite sluggishness in the market. Other senior officials of the Ministry and Nalco were present on the occasion.