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."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app