New Delhi: IREL (India) Limited, a PSU under the Department of Atomic Energy (DAE), has declared an additional dividend out of the profit for the financial year 2019-20. With the declaration of additional dividend, the total dividend paid by IREL would amount to Rs 112.53 crore i.e. 38.60 percent of profit after tax (PAT) for the year 2019-20.
Previously, the company had issued 100 percent equity bonus shares amounting to Rs 86.36 crore and paid an interim dividend of Rs 71 crore for the year 2020-21. The company has complied with the consistent dividend payment advisory issued by DIPAM and declared dividend over and above the minimum dividend payment stipulations in spite of the difficult situation faced in the backdrop of the COVID-19 pandemic.
IREL (India) Limited
IREL (India) Limited, formerly Indian Rare Earths Limited, is a Miniratna PSU under the administrative control of the Department of Atomic Energy. The company was incorporated on August 18, 1950, with its first unit Rare Earths Division (RED), Aluva, in Kerala. It became a full-fledged PSU under the administrative control of the Department of Atomic Energy (DAE) in the year 1963 and took over companies engaged in mining and separation of beach sand minerals in the southern part of the country, by establishing two more Divisions one at Chavara, Kerala and the other at Manavalakurichi (MK), Tamilnadu.
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