NMDC declares interim dividend of 430%; shareholders pocket Rs 13.60 bn

NMDC Board on Monday decided to give this year's first interim dividend of Rs 13.60 billion, that works out at 430 per cent.

Of this, Rs 9.85 billion will be Central Government's share.

During the last five years, NMDC has paid about Rs 155.25 billion as dividend to its shareholders, of which Government of India had got about Rs 124.18 billion on the basis of its shareholding in the company. The government holds 74.96 percent shares in this public sector iron ore mining company.

In addition to dividend, NMDC had also gone for a buyback of shares in 2016-17 for Rs 75.28 billion and offer for sale during this financial year, which had fetched Rs 9.80 billion to the Government, according to the company.