Nalco declares record 115% dividend at Rs. 1,073 cr

Bhubanswar: The National Aluminium Company Limited (Nalco) has once again brought cheer in the stock market by declaring record dividend payout of Rs 1,072.73 crore which is an increase from 114 per cent in 2017-18 to 115 per cent in 2018-19, which works out to Rs 5.75 per equity share of Rs 5 each.

This is the highest dividend payout since the inception of the company in 1981. Till 2018-19, a total of Rs 32,886 crore towards taxes, duties, royalties, dividend etc was given to the Central Government (Rs 25,917 crore) and the State Government (Rs 6,969 crore).

Speaking on the sidelines of the 38th AGM on Wednesday, Nalco CMD Dr Tapan Kumar Chand attributed the success to team work, strong cost focus and strategic planning.

“Year 2018-19 has been an extremely rewarding year for the 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,” said Dr Chand.

The company also achieved best performance in a decade making Rs earning 1,732 crore net profit, a growth of 29 per cent over previous year

The Central PSU is credited to be the lowest cost producer of alumina in the world consecutively for the last four years, lowest cost producer of bauxite in the world in 2018, one of the top three CPSEs with highest net

foreign exchange earnings and its domestic market share in aluminium has increased to 24.3 per cent in FY 2018-19 against 21.1 per cent in previous year.