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.

Comments

Other News

Bhashini provides translation support at this great congregation of languages

The Ministry of Electronics and Information Technology (MietY) has offered technological support at the Maha Kumbh in Prayagraj being held from January 13 to February 26, 2025 with the integration of Bhashini for multilingual accessibility. ‘Digital Lost & Found Solution&rs

CSIR’s new Innovation Complex to foster translational research, industry collaboration

India is home to many small and big industries where research is carried out, yet many innovators are not able to find a platform to bring their ideas into fruition. Despite having a vast network of government laboratories that perform ground breaking research, these innovations struggle to translate into

Deepa Malik and the incredible story of her indomitable spirit

Bring It On: The Incredible Story of My Life By Deepa Malik HarperCollins, 312 pages, Rs 499

RINL gets Rs 11,440 crore revival plan

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved the revival plan for RINL for a total of Rs 11,440 crore. The infusion includes ₹10,300 crore as equity capital into Rashtriya Ispat Nigam Ltd. (RINL) and Conversion of ₹1,140 crore working capital loan as 7% No

How SpaDeX Mission revolutionises space exploration

In a historic achievement, the Space Docking Experiment (SpaDeX) mission’s docking operation was successfully completed on Thursday, marking India’s entry into the elite group of nations capable of executing space docking operations. With this success, India becomes the fourth country in the wo