Nalco announces record dividend payout of INR1072.73 crore for FY18-19

National Aluminium Company Limited (NALCO) announced higher ever dividend on the occasion of its 38th Annual General Meeting (AGM). The company declared a record dividend payout of INR 1072.73 crore for the financial year 2018-19. The dividend was an increase from 114% in 2017-18 to 115 % in 2018-19, which works out to INR5.75 per equity share of INR5 each.

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 FY 2018-19, INR 32,886 crore paid towards taxes, duties, royalties, dividend, etc. Out of the total amount, INR 25,917 crore paid to Central Govt. and INR 6,969 crore paid to State Govt, NALCO said.

Dr. Tapan Kumar Chand, CMD at NALCO, attributed the success to team work, strong cost focus and strategic planning. Dr. Chand said, “Year 2018-19 has been an extremely rewarding year for NALCO on all fronts. We have not only excelled in making production, profit, productivity and people engagement, we have also made exemplary contribution in promoting and putting focus on nature, nurture and future. Sustainability has now become a part of our key business processes, empathy and core of our CSR practices.”

NALCO reported highest-ever sales turnover and export earnings in 2018-19. The company achieved the best performance in a decade with INR1,732 Crore net profit, a growth of 29% year-on-year. Metal production stood at 4.40 lakh tonne, the highest since last 8 years. Value-added products output were 1.52 lakh MT, the highest ever since inception.

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