NALCO declares dividend of Rs 1072.73 crore for 2018-19

NALCO declares Rs 1072.73 crore dividend for 2018-19

Bhubaneswar: National Aluminium Company Limited (NALCO) on Wednesday declared a record dividend payout of Rs 1072.73 crore.

This is an increase from 114 per cent in 2017-18 to 115 per cent in 2018-19, which works out to Rs 5.75 per equity share of Rs 5 each.

This is the highest dividend payout since the inception of the company in 1981, said a NALCO statement on Wednesday.

The total dividend for the financial year 2018-19 works out to Rs 1072.73 crore as against Rs 1101.77 crore during the previous year, it said.

Dividend including the applicable dividend distribution tax works out to a payout of 74.65 per cent of the PAT against 98.81 per cent of the previous financial year.

Till the financial year 2018-19, Rs 32,886 crore towards taxes, duties, royalties, dividend have been paid and out of which Rs 25,917 crore paid to the Central government and Rs 6,969 crore paid to the Odisha government.

Speaking on the sidelines of the 38th Annual General Body (AGM) meeting, NALCO chairman and managing director Tapan Kumar Chand attributed the success to teamwork, strong cost focus and strategic planning.

Chand said, “The year 2018-19 has been an extremely rewarding year for NALCO on all fronts. We have not only excelled in making production, profit, productivity and people engagement, we have also made an exemplary contribution in promoting and putting the focus on nature, nurture and future. Sustainability has now become a part of our key business processes, empathy and core of our CSR practices.”