Central Warehousing Corporation declares a dividend of 95.53% of its paid-up capital as against 72.20% last year
The central PSU has recorded the highest ever turnover in FY'20
New Delhi: The Central Warehouse Corporation (CWC) achieved the highest ever turnover of about Rs.1710 Crore during 2019-20. The Managing Director of CWC, Arun Kumar Shrivastava handed over the dividend cheque of Rs 35.77 crore to the Union Minister for Consumer Affairs, Food and Public Distribution Ram Vilas Paswan here in Delhi on Friday in the presence of Secretary, Food & Public Distribution, Sudhanshu Pandey and other senior officers of the Ministry and CWC. The minister commended CWC for its good performance.
CWC has declared an interim dividend for the year 2019-20 at the rate of 95.53% of its paid-up capital as against 72.20% last year. Out of total dividend of Rs 64.98 crore, the Government of India share is Rs 35.77 crore. In the Central Warehouse Corporation Government of India holds 55% equity. The final dividend for the year 2019-20 shall be declared in the Annual General Meeting of shareholders.
Central Warehousing Corporation (CWC), a Schedule ‘A’-Mini Ratna, Category – 1 Central Public Sector Enterprise (CPSE) is a statutory body which was established under ‘The Warehousing Corporations Act, 1962’. Its aim is to provide reliable, cost-effective, value-added, integrated warehousing and logistics solution in a socially responsible and environmentally friendly manner.
The authorised capital and total paid-up capital of CWC are Rs. 100 crore and Rs. 68.02 crore respectively. During 2018-19, the turnover of CWC was Rs. 1604.62 crore, its Profit Before Tax was Rs. 225.42 crore and its Profit After Tax was Rs. 163.61 crore. CWC has paid a total dividend of Rs 49.08 crore for the year 2018-19 to its shareholders. As a premier Warehousing Agency, CWC is operating 415 warehouses as on 31.12.2019 with a total storage capacity of 101.44 lakh MT including 25 Container Freight Stations (CFSs)/ Inland Clearance Depots (ICDs), 3 Air Cargo Complexes (ACCs), 2 Inland Check Posts (ICPs) at Petrapole and Attari and 3 Temperature Controlled Warehouses.
Warehousing activities of CWC include foodgrain warehouses, industrial warehousing, custom bonded warehouses, container freight stations, inland clearance depots and air cargo complexes.