NMDC declares interim dividend @ 776% for FY 2020-21

New Delhi: NMDC Limited’s board has decided to give an interim dividend at the rate of 776 percent for the year 2020-21 at its meeting held on March 11. The interim dividend outgo would be Rs 2,274 crore, of which Rs 1,553 crore would go to the government, as per the government's 69.65 percent stake in the company. NMDC has been giving rich dividends to the government and its shareholders since 1991.

During the last 10 years, NMDC has paid about Rs 23,288 crore as a dividend to its shareholders of which the government's share is about Rs 18,536 crore. In addition to the dividend, NMDC has also gone for buyback of shares in FY-21, amounting to Rs 1,378 crore of which the government received Rs 1,377 crores. However, the record date for payment of a dividend has not been announced yet.

ALSO READ: NMDC creates new history in production & sales in Feb 2021

“I am pleased to announce that NMDC is growing at a fast pace and has set new production records in the last quarter"- Sumit Deb, CMD, NMDC

Congratulating the NMDC board and employees, NMDC's CMD Sumit Deb said “I am pleased to announce that NMDC is growing at a fast pace and has set new production records in the last quarter. NMDC’s performance will help boost the country’s economy and we are confident of continuing the good work in the coming years as well.”

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)