Home >market >stock-market-news >Nalco declares interim dividend of Rs908 crore

New Delhi: State-run National Aluminium Company Limited (Nalco) on Monday declared an interim dividend of Rs908.48 crore for the ongoing fiscal.

“National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines... has declared an interim dividend of 94 per cent, i.e., 4.70 per share of 5 each, amounting to 908.48 crore for the financial year 2017-18, on the paid-up equity share capital of 966.46 crore," the company said in a filing to BSE.

Stating it as the highest-ever dividend declared by the company since inception, Nalco said its chairman and managing director Tapan Kumar Chand presented a cheque amounting to Rs546.95 crore as interim dividend to the centre.

Mines minister Narendra Singh Tomar “was presented a cheque, amounting to 546.95 crore as interim dividend, by...Chand," the statement said.

He appreciated the efforts of Chand and his team for the effective functioning of Nalco and five-fold jump in profit of the public sector unit (PSU) in third quarter of this financial year. It may be mentioned that since inception, Nalco has paid a total of Rs7,273.59 crore as dividend including Rs5,918.39 crore as share of centre.

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