Neyveli Lignite Corporation pays Rs 422.78 crore as dividend

Govt of India holds majority stake in the company

Company's shareholders at the 58th Annual General Meeting held have declared a final dividend at the rate of 18% for 2013-14, in addition to 10% Interim Dividend paid during March 2014, aggregating to a total dividend of 28% (Previous year 28%). The total dividend payout (including distribution tax) for 2013-14 amounts to Rs 549.59 crore.

Taking into account the Interim Dividend of Rs150.99 crore paid during March 2014, the total dividend paid to Government of India for the year 2013-14 was Rs 422.78 crore.

The Final Dividend amount of Rs 271.79 crore on the share capital held by the President of India was handed over to Piyush Goyal, the Union Minister of State for Power, Coal and New & Renewable Energy (Independent Charge) by B Surender Mohan, Chairman-cum- Managing Director, NLC Limited.