Kerala

27% dividend for CIAL shareholders

Chief Minister Pinarayi Vijayan at the 25th Annual General Body Meeting of the Cochin International Airport Limited in Kochi city on Friday.

Chief Minister Pinarayi Vijayan at the 25th Annual General Body Meeting of the Cochin International Airport Limited in Kochi city on Friday.  

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The annual general body meeting of the shareholders of Cochin International Airport Ltd. has approved a dividend payment of 27%.

Chief Minister Pinarayi Vijayan, who is the chairman of the board, said he did not want to elaborate on the achievements of the airport company as the code of conduct was in place for the bypoll to the Ernakulam Assembly seat.

CIAL recorded total business of ₹560 crore during 2018-19, up from ₹553 crore during the previous financial year. Though the airport was shut down for 15 days following the floods in August 2018, the business grew nearly 18%.

CIAL has taken into consideration the performance of its fully held subsidiaries such as CIAL Duty Free and Retail Services Limited to record a total turnover of over ₹800 crore and a profit of ₹184 crore. CIAL itself made a profit of ₹167 crore, up from ₹155.99 crore during 2017-19. The company has set aside ₹124.53 crore for the dividend outgo. The State government, which holds 32.41% shares in the company, will get ₹33.48 crore as dividend, said a CIAL statement here on Saturday. The company has around 18,000 shareholders, spread across 30 countries. The airport has completed 20 years since its operations started.

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Printable version | Jan 20, 2020 10:42:52 PM | https://www.thehindu.com/news/national/kerala/27-dividend-for-cial-shareholders/article29544343.ece

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