NALCO to pay 18% interim dividend

BHUBANESWAR: National Aluminium Company Ltd ( NALCO) on Tuesday said its board has approved payment of interim dividend of Rs 0.90 per share on the paid-up equity share capital of Rs 1288.62 crore for the financial year 2011-12.

"This has been approved in the meeting of the company's Board of Directors held here today," a press release issued by the Navratna company said.

The 18 per cent declared today would be paid on enlarged capital base after split and bonus issue last year, the release added.

NALCO, which started its commercial operations in 1987, has been earning profits consistently and has been declaring dividends since 1992.

The company had paid Rs 257.72 crore as dividend in 2010-11 when it had earned a net profit of Rs 1,069 crore. In the current fiscal, the company has provisionally earned a net profit of Rs 567.40 crore till December, 2011.

Since its inception, NALCO has paid Rs 4,171.25 crore as dividend, including Rs 3,637.16 crore to the central government.