NALCO announces 56% dividend amounting to Rs. 651 crore for 2016-17
In the 36th Annual General Meeting held here on 23rd September 2017, the shareholders of National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Govt. of India, have approved a total dividend payout of 56%, which works out to Rs.2.80 per equity share of Rs.5 each. The total payout, including Dividend Distribution Tax, works out to Rs.651.40 crore, as against Rs.562.22 crore paid in the last fiscal. For the year, dividend payment, including dividend distribution tax works out to 97.44% of net profit. Since inception, NALCO has paid a total of Rs.6687 crore as dividend, including Rs.5632 crore as share of Govt. of India.
Speaking on the occasion, Dr. Tapan Kumar Chand, CMD, NALCO congratulated all the stakeholders for NALCO’s success in sustaining production performance, along with productivity and profitability despite the downturn in the international metal market. “The year was also a testimony of NALCO being a partner in progress and an industry leader in promoting inclusive growth, sustainable development and nurturing happiness among people,” said Dr. Chand.
“Our action plan includes, increasing the volume of production, expansion and modernization of our plants, import substitution and diversification of products. Further, the company targets to strengthen its presence in the domestic as well as in the international market. A New Business Model has been envisaged, which takes into account the market uncertainties of future,” Dr. Chand said.
PERFORMANCE HIGHLIGHTS : 2016-17
- Net Profit of Rs. 669 crore
- Gross turnover of Rs. 7933 crore
- Highest-ever production with Bauxite Transportation of 68.25 lakh MT (achieving 100% capacity utilization)
- Highest-ever Alumina Hydrate production of 21.00 lakh MT (100% of normative capacity)
- NALCO’s Alumina Refinery is the lowest-cost producer of Alumina in the World
- Cast metal production of 3.87 lakh MT, registering a growth of 4.03 % over previous year
- Net Power Generation’ of 6,066 MU, registering a growth of 3.85% over previous year
- Generation of 206 MU of wind energy
- Total Metal Sales up by 2.52% in domestic market
- Share price of NALCO has more than doubled in last two years from Rs.36.45 in 2015 to Rs.85.40 as on 13th September 2017