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NALCO declares record dividend payout of Rs.1072.73 crore for FY 2018-2019

NALCO declares record dividend payout of Rs.1072.73 crore for FY 2018-2019

India Blooms News Service | @indiablooms | 18 Sep 2019, 09:18 pm

Bhubaneswar, Sep 18 (UNI) The National Aluminium Company Limited (NALCO), the Navratna PSU under Ministry of Mines, has registered a record dividend payout of Rs  1072.73 crore for the financial year 2018-2019.

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.

The dividend is an increase from 114 percent 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, NALCL CMD  Tapan Kumar Chand said on the sidelines of the 38th Annual general meeting of the company here today.

Nalco sources said  the 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 the company has paid  Rs. 32,886 crores towards taxes, duties, royalties, dividend out of which Rs. 25,917 crores paid to Central government and Rs. 6,969 crore paid to the state government.

Chand attributed the success to teamwork, strong cost focus and strategic planning.

The year  2018-19 has been an extremely rewarding year for NALCO on all fronts, he said adding that “We have not only excelled in making production, profit, productivity and people engagement but  also made exemplary contribution in promoting and putting the focus on nature, nurture and the future.

The Nalco CMDF claimed that the  company  has become the Lowest Cost Producer of alumina in the world consecutively for last 4 years,lowest cost producer of Bauxite in the world in 2018.

Nalco, he further said is one  of the top three CPSEs with highest net foreign exchange earnings (Public Enterprise Survey of DPE).

The domestic market share in Aluminium has increased to 24.3 per cent in FY 2018-19 against 21.1 per cent in the previous year.

The Panchpatmali Bauxite Mines has been rated as Five Star Rating by Ministry of Mines.

In the  financial font the company has achieved highest-ever Sales Turnover and Export Earnings, highest PAT in the last 10 years,highest-ever dividend paid and CAPEX of Rs 919 crore achieved.

During the  year  Nalco  also achieved highest ever Bauxite transportation since inception,100 per cent Capacity utilisation of Central Block for 3rd consecutive year, highest ever Alumina Hydrate production since inception.

The Metal production of 4.40 lakh Ton was the highest since the last 8 years. The Production of value-added products of 1.52 lakh MT was also highest ever since inception, Mr.Chand said.

NALCO declares record dividend payout of Rs.1072.73 crore for FY 2018-2019

India Blooms News Service
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