The National Aluminium Company Limited (NALCO) announced an interim dividend of 25 per cent amounting to Rs.322.16 crore for the financial year 2015-16, on the paid-up equity share capital of Rs.1,288.62 crore.
NALCO Chairman and Managing Director Tapan Kumar Chand presented a cheque of Rs.260.72 crore to Narendra Singh Tomar, Union Minister of Steel and Mines, in the presence of Balvinder Kumar, departmental secretary, as interim dividend on the 80.93 per cent shares held by the Government of India in New Delhi on Monday, said the company in a statement here.
According to NALCO, Mr. Tomar praised the company for effective functioning despite sluggishness in the market. The company’s all-time high bauxite production of 63.40 lakh tonnes and 19.53 lakh tonnes of alumina in 2015-16 was hailed by the Minister.
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R. Sridharan, Additional Secretary, N. B. Dhal, Joint Secretary and NALCO Director (Finance) K.C. Samal were present on the occasion. The public sector aluminium major, which started its commercial operations in 1987, has been earning profits consistently and declaring dividends since 1992.
According to the company, in 2014-15 fiscal, the company had declared a total dividend of Rs.451.02 crore. Since inception, it has paid a total of Rs.5,679 crore as dividend including Rs.4,860 crore as share of the Government of India.