Bhubaneswar: Continuing its bull run, National Aluminium Company Limited (NALCO), a Navratna PSU under the Ministry of Mines, has declared a record dividend payout of Rs 1,072.73 crore. This marks an increase from 114 percent in 2017-18 to 115 percent in 2018-19, which works out to Rs 5.75 per equity share of Rs 5 each. This is the highest dividend payout declared by NALCO since the inception of the company in 1981.
The total dividend for the financial year 2017-18 was Rs 1,101.
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77 crores during the previous year.
Dividend equals 74.65% of PAT
Dividend including the applicable dividend distribution tax works out to a payout of 74.65 percent of the PAT against 98.81 percent of the previous financial year. Till FY 2018-19, Rs 32,886 crores was spent on taxes, duties, royalties, dividend etc, out of which Rs 25,917 crores was paid to the Central government and Rs 6,969 crores was paid to the state government.
‘FY19 has been extremely rewarding for NALCO’
Speaking on the sidelines of the 38th AGM, NALCO CMD Dr Tapan Kumar Chand 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.”
Highlights of FY19
NALCO consolidates its position as the lowest-cost producer of alumina in the world consecutively for the last 4 years, according to a report by Wood Mackenzie. It was one of the top three PSUs with the highest net foreign exchange earnings (Public Enterprise Survey of DPE). The company’s Domestic market share in aluminium has increased to 24.3 percent in FY 2018-19 against 21.1 percent in the previous year.
The company received five-star rating for Panchpatmali Bauxite Mines by the Ministry of Mines. NALCO ensured “Zero Effluent Discharge” and planted 10 million trees.