Special Correspondent

Pays 20 per cent dividend to shareholders

THIRUVANANTHAPURAM: The Kerala Urban and Rural Development Finance Corporation (KURDFC) has registered a profit of Rs.1.87 crore during the last financial year, Local Administration Minister Paloli Mohammed Kutty has said.

Mr. Kutty said in a release here on Wednesday that the corporation, which was floated for developing the infrastructure facilities in local self-government institutions (LSGIs), has given 20 per cent dividend to the share holders.

The company has become profitable mopping up the loss incurred in 2005-06.

During the period, the company had given loans to the tune of Rs.7.12 crore to 10 municipalities and two grama panchayats. T.K. Jose, Chairman of the company handed over a sum of Rs.10.20 lakh as dividend to the Minister. Mr.Kutty congratulated the staff who strived hard to make the company profitable.