NALCO announces Rs 651 crore dividend -Governance Now

NALCO announces Rs 651 crore dividend

Since inception, NALCO has paid a total of Rs 6,687 crore as dividend

GN Bureau | September 27, 2017

#PSU #NALCO #dividend

National aluminium company limited (NALCO), a Navratna PSU, in its 36th annual general meeting has approved a total dividend payout of 56 percent.

The total payout, including dividend distribution tax, works out to Rs 651.40 crore. For the year, dividend payment, including dividend distribution tax works out to 97.44 percent of net profit. Since inception, NALCO has paid a total of Rs 6,687 crore as dividend, including Rs 5,632 crore as share of union government.

NALCO CMD Tapan Kumar Chand lauded the stakeholders for the enterprises’ success in sustaining production performance, along with productivity and profitability despite the downturn in the international metal market.

“The year was also a testimony of NALCO being a partner in progress and an industry leader in promoting inclusive growth, sustainable development and nurturing happiness among people,” he said.

He said NALCO’s action plan includes, increasing the volume of production, expansion and modernisation of plants, import substitution and diversification of products.

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