The Centre will receive ₹1,553 crore as its share of the interim dividend declared by mining major NMDC for the current fiscal.
The State-owned company, whose board had approved an interim dividend of ₹7.76 per equity share (face value of ₹1 each), said the outgo would be ₹2,274 crore of which ₹1,553 crore would be the Centre’s share. The government holds 69.65% stake in the company.
In the last ten years, NMDC had paid about ₹23,288 crore in dividend to its shareholders of which the Centre’s share was about ₹18,536 crore. It had also gone for a share buyback in FY-21, amounting to ₹1,378 crore of which the government received ₹1,377 crore, a statement from the company on Friday said.
CMD Sumit Deb said NMDC is growing at a fast pace and set new production records in the last quarter. Its performance will help boost country’s economy and “we are confident of continuing the good work in the coming years as well.”
Source: Read Full Article