NALCO declares 40% dividend for 2015-16

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Navaratna PSU National Aluminium Company Ltd (NALCO) today announced total dividend of 40 per cent amounting to Rs 467.13 crore for 2015-16 year.

It was approved at the 35th Annual General Meeting of the shareholders of the state-owned aluminium major here yesterday.

The shareholders approved a total dividend payout of 40 per cent, which works out to Rs 2 per equity share of Rs 5 each. Earlier 25 per cent had been paid as interim dividend, a company statement said.

The dividend declared is the highest since capital restructuring, which was done by issue of bonus share in March 2011. The total payout works out to Rs 467.13 crore, excluding applicable dividend distribution tax for 2015-16, it said.

Since inception, NALCO has paid a total of Rs 5,679 crore as dividend, including Rs 4,860 crore as share of Government of India, till the interim dividend of 2015-16, the statement added.