The National Aluminium Company Limited (Nalco), a Navratna PSU under the Ministry of Mines, has again brought cheer to the stock market by declaring a record dividend payout of INR 1,072.73 crore – an increase from 114% in 2017-18 to 115 % in 2018-19, which works out to INR 5.75 per equity share of INR 5 each. This is the highest dividend payout since the inception of the company in 1981. The total dividend for the financial year 2018-19 works out to INR 1072.73 crore as against INR 1,101.77 crore during the previous year. Dividend, including the applicable dividend distribution tax, works out to a payout of 74.65% of the PAT against 98.81% of the previous financial year. Till financial year (FY) 2018-19, INR 32,886 crore was paid toward taxes, duties, royalties, dividends, etc. out of which INR 25,917 crore was paid to the central government and INR 6,969 crore was paid to the state government.
Speaking on the sidelines of Nalco’s 38th AGM, Tapan Kumar Chand, CMD, Nalco, attributed the success to team work, strong cost focus and strategic planning. Chand said, “Year 2018-19 has been an extremely rewarding year for Nalco on all fronts. We have not only excelled in production, profits and people engagement we have also made exemplary contributions in shifting the focus to nature and the future. Sustainability has now become a part of our key business processes and the core of our CSR practices.”