NALCO announces record 115% dividend amounting to Rs.1072.73 crore for 2018-19 • Best Performance in a Decade with Rs.1,732 Crore Net profit, a growth of 29% over previous year
Continuing its bull run, National Aluminium Company Limited (NALCO), the Navratna PSU under Ministry of Mines, Govt. of India, has once again brought cheer in the stock market by declaring record dividend payout of Rs 1072.73 crore – an increase from 114% in 2017-18 to 115 % 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. The total dividend for the financial year 2018-19 works out to Rs.1072.73 crores as against Rs.1101.77 crores during the previous year.
Dividend including the applicable dividend distribution tax works out to a payout of 74.65% of the PAT against 98.81% of previous financial year. Till FY 2018-19, Rs. 32,886 crore towards taxes, duties, royalties, dividend etc. out of which Rs. 25,917 crore paid to Central Govt. and Rs. 6,969 crore paid to State Govt.
Speaking on the sidelines of the 38th AGM, Dr. Tapan Kumar Chand, CMD, NALCO, attributed the success to team work, strong cost focus and strategic planning. Dr. Chand said, “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 exemplary contribution in promoting and putting focus on nature, nurture and future. Sustainability has now become a part of our key business processes, empathy and core of our CSR practices.”