Board of Directors of NALCO approve 2nd interim dividend on March 13

The Board of Directors OF NALCO have approved payment of second interim dividend at the rate of Rs 2.5 per share on the paid-up equity share capital
Board of Directors of NALCO approve 2nd interim dividend on March 13
Board of Directors of NALCO approve 2nd interim dividend on March 13

New Delhi: State-owned National Aluminium Company Limited (NALCO) said in a regulatory filing that its Board of Directors have approved the payment of second interim dividend for the FY2022-2023. "In terms of Regulation 30 of SEBI (LODR) Regulations, 2015, we would like to inform that, the Board of Directors in their meeting held on March 13 have approved payment of second interim dividend at the rate of Rs 2.5 per share (50 percent on Face value of Rs 5 each) on the paid-up equity share capital of Rs 918.32 crores for the financial year 2022-23," it said.

Record date for the payment has been fixed as March 21

The company has fixed March 21 as record date to ascertain the eligibility of shareholders who are entitled for the 2nd interim dividend, it added. Further, it said, "the payment of second interim dividend shall be made on or before March 31 to all eligible shareholders, whose names appear in the Register of Members as on record date."

Guidelines for shareholders

Highlighting the guidelines for shareholders, the company said, "Dividend income is taxable in the hands of shareholders and the Company is required to deduct tax at source (TDS) at the time of making payment of dividends, at the rates prescribed in the Income Tax Act, 1961. Shareholders who do not want TDS to be deducted from their dividend income, may submit scanned copy of PAN, Form 15G/ 15H & other requisite documents for the financial year 2022- 23, unless already submitted, on or before March 21 through e-mail at einward.ris@kfintech.com with copy marked to company_secretary@nalcoindia.co.in."

"The Resident Non-Individual Members i.e., Insurance companies, Mutual Funds and Alternative Investment Fund (AIF) established in India and Non-Resident Non-Individual Members i.e., Foreign Institutional Investors and Foreign Portfolio Investors may alternatively submit the relevant forms / declarations / documents through their respective custodians who are registered on NSDL platform, on or before the aforesaid timelines," the company added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

logo
PSU Watch
psuwatch.com