SAIL says dividend for FY18 not possible due to loss

State-run steel maker SAIL has informed the government that it is not in a position to pay dividend for 2017-18 as it suffered a loss of Rs 281 crore in the fiscal, an official said.

"When the government which is a major shareholder in SAIL asked the PSU that whether it was giving dividend the steel major said that at present it is not in net profit," the official said.

For giving dividend, the company first has to come to profit, the official added.

"Being a shareholder, the government will definitely ask the PSU are you going to give dividend? They are not saying that give dividend," the official said further.

A SAIL spokesperson said, "Since we were at loss in 2017-18 we not in a position to pay dividend for the fiscal."