The Minister of Steel and Mines, Shri Narendra Singh Tomar was presented with a dividend cheque of ' 9.72 crore by MECON in New Delhi today. The company declared 20% dividend on equity share capital amounting to '8.03 crore and 5% dividend on preference share capital amounting to ' 1.69 crore. Shri A.K. Tyagi, CMD MECON presented the cheque to the Minister.
For the Financial Year 2013-14 MECON achieved annual turnover of ' 341.29 Crores and earned Profit Before Tax of ' 68.69 Crores. The Profit After Tax of the company is '49.48 Crores. For the Financial year 2013-14 the company paid Equity Dividend @ 20% on paid-up equity share capital amounting to ' 8.03 Crores. After a long gap of 13 years this is the third consecutive year the company has paid equity dividend to the Government of India. In addition, the company has paid Preference Dividend @5% of paid-up preference share capital amounting to ' 1.69 Crores. Thus, the total dividend paid for FY: 2013-14 is ' 9.72 Crores. The total paid up capital of the company as on 31st March, 2014 is ' 65.34 Crores consisting of Equity Share Capital of ' 40.14 Crores and Preference Share Capital of ' 25.20 Crores. Net worth of the company stands at '416.80 Crores as on 31st March, 2014 which is 6.52% higher than the last financial year. The company has contributed ' 93.85 Crores to the national exchequer for the FY: 2013-14.
The Secretary Ministry of Steel, Shri Rakesh Singh, Addl. Secretary & Financial Advisor and Joint Secretary of the Ministry of Steel alongwith senior officials of MECON were present on this occasion.
For the Financial Year 2013-14 MECON achieved annual turnover of ' 341.29 Crores and earned Profit Before Tax of ' 68.69 Crores. The Profit After Tax of the company is '49.48 Crores. For the Financial year 2013-14 the company paid Equity Dividend @ 20% on paid-up equity share capital amounting to ' 8.03 Crores. After a long gap of 13 years this is the third consecutive year the company has paid equity dividend to the Government of India. In addition, the company has paid Preference Dividend @5% of paid-up preference share capital amounting to ' 1.69 Crores. Thus, the total dividend paid for FY: 2013-14 is ' 9.72 Crores. The total paid up capital of the company as on 31st March, 2014 is ' 65.34 Crores consisting of Equity Share Capital of ' 40.14 Crores and Preference Share Capital of ' 25.20 Crores. Net worth of the company stands at '416.80 Crores as on 31st March, 2014 which is 6.52% higher than the last financial year. The company has contributed ' 93.85 Crores to the national exchequer for the FY: 2013-14.
The Secretary Ministry of Steel, Shri Rakesh Singh, Addl. Secretary & Financial Advisor and Joint Secretary of the Ministry of Steel alongwith senior officials of MECON were present on this occasion.
