Abb Declares 50 Per Cent Final Payout
ABB Ltd has declared a 50 per cent final dividend to its shareholders for the 1996 financial year. The company posted a 148 per cent increase in net profits to Rs 154.9 crore.
The company said the total dividend, along with its special interim dividend of 30 per cent, would work out to 80 per cent.
Its turnover rose to Rs 1185.6 crore from Rs 918.5 crore during the period. The company had registered a Rs 62.5 crore profit in the previous year. The results were declared after the board meeting held here yesterday. The EPS of Rs 10 works to Rs 26.60 on its equity, while the earnings per share for the previous year is Rs 20.
ABB has contributed Rs 177-crore worth duties and tax to the exchequer, while its contribution for the previous year stood at Rs 128 crore.