NALCO pays Rs 202 cr as interim dividend to govt

Bhubaneswar: Aluminium giant and Navaratna PSU NALCO today declared an interim dividend of Rs 231.95 crore for 2011-2012 on the paid up equity share capital of Rs 1288.62 crore. Minister of State for Mines (Independent Charge), Dinsha J Patel, was presented a National Electronic Clearing Service (NECS) advice amounting to Rs 202.14 crore as interim dividend on the 87.15 per cent shares held by the Union Government in New Delhi today, company sources said here.

NALCO, which started its commercial operations in 1987 has been earning profits consistently and has been declaring dividends since 1992. For the year 2010-11, the company had declared a total dividend of Rs.257.72 crore. The company had earned a net profit of Rs.1069 crore during the year 2010-11.

During the current financial year, the company has provisionally earned a net profit of Rs.567.40 crore up to December 2011. The 18 per cent interim dividend is being paid on enlarged capital base after split and bonus issue last year, sources said. Since its inception, NALCO has paid Rs.4171.25 crore as dividend including Rs.3637.16 crore to the central government. In addition, the company had also repaid an amount of Rs.644.31 crore to its shareholders during 1999 by reducing the capital base by 50 per cent.