Nalco declares the highest dividend pay of Rs 11.02 billion for 2017-18

National Aluminium Company (Nalco), a central public sector enterprise (CPSE) under Union mines ministry, has announced a dividend pay out of Rs 11.02 billion, its highest ever since inception.

The dividend works out to Rs 5.70 per equity share of Rs five each. The total payout, including Dividend Distribution Tax, works out to Rs 13.26 billion, as against Rs 6.51 billion in the last fiscal. The shareholders of Nalco approved the dividend payout in the 37th Annual General Meeting (AGM) held here on August 29.

For the year, dividend payment, including dividend distribution tax works out to 98.78 per cent of net profit. Nalco has paid a total of Rs 72.73 billion as dividend, including Rs 59.18 billion as share of the Government of India. The contribution to public exchequers from inception till 2017-18 is Rs 298.77 billion towards taxes, duties, royalties and dividend out of which Rs 234.10 billion has been paid to the central government and Rs 64.67 billion has been paid to the state government.

Speaking on the sidelines of the 37th AGM, Tapan Kumar Chand, chairman & managing director, Nalco, attributed the success to team work, strong cost focus and strategic planning. Chand said, "The new business plan of Nalco has set the company on a growth path. The results are starting to show. The record dividend payout is a result of the commitment our stakeholders have in the growth-oriented approach adopted by the company. The latest results can only augur well for Nalco as we look to scale greater heights in our quest for excellence in inclusive growth and spreading happiness among people."