NALCO pays final dividend of INR 112 crore

National Aluminum Company Limited, the Navratna PSU under the Ministry of Mines, Government of India has paid a total dividend amount of INR 257.72 crore for the financial year 2010 to 2011 which includes the final dividend of INR 128.86 crore at INR 0.50 per equity share on expanded capital ie 10% on face value of INR 5 each, in addition to interim dividend of same amount paid at INR 2.00 per equity share on pre revised equity share capital ie 20% on face value of INR 10 each. This sum is 60% higher than total sum of INR 161.08 crore paid for the previous fiscal.

The cheque for final dividend amounting to INR 112.30 crore on the 87.15% shares held by the government of India was handed over to Mr Dinsha J Patel Union Minister of Mines, by Mr BL Bagra CMD of NALCO in the presence of Mr S Vijay Kumar secretary of Ministry of Mines, Mr SK Srivastava additional secretary of Ministry of Mines and other senior officials of the Ministry and the company. The balance amount of INR 16.56 crore is payable to other shareholders of the company like banks, financial institutions and individual shareholders.

Since inception, NALCO has paid INR 3940crore as dividend including INR 3435 crore as share of Government of India. The dividend servicing after recent split and bonus has thus improved due to better business environment and higher payout. During 2010 to 2011, NALCO earned a profit after tax of INR 1069 crore as compares to INR 814 crore in the previous year registering a jump of 31%.