Hindustan Copper pays Rs 83.22 cr dividend to govt

Hindustan Copper (HCL) today paid Rs 83.22 crore dividend for the year 2013-14 to the government for its 89.95 per stake in the firm.

Shareholders of the state-run copper maker had last month approved dividend at the rate of 20% on equity for the year 2013-14 at company's annual general meeting, an official statement said.

Union Minister of Steel, Mines, Labour and Employment Narendra Singh Tomar received the dividend cheque from HCL's Chairman and Managing Director K D Diwan.

During 2013-14, HCL had achieved Rs 430.65 crore Profit Before Tax, higher by 6.7% compared to the previous year.

It produced its 15-year best copper ore in last fiscal. Sales were higher by 18%. HCL has been paying dividend continuously since 2010-11.