Dredging Corporation pays dividend of Rs.19.79 crore

New Delhi, Oct 19 (UNI) The Dredging Corporation of India (DCI), a 'Mini Ratna' PSU of the Shipping, Road Transport and Highways Ministry, presented a dividend of Rs. 19.79 crore as the final dividend for 2006-07.

The dividend was paid by DCI Chairman and Managing Director Capt. S.S. Tripathi to Union Shipping, Road Transport and Highways Minister T.R. Baalu here yesterday.

At the 31st Annual General Meeting held in September, the DCI had declared a 150 per cent dividend (including 60 per cent interim dividend paid in March this year) on its paid-up capital for the year 2006-07.

For the Financial Year 2005-06, the compnay had declared a similar dividend.

A ministry official today said the final dividend payable would be 90 per cent (Rs.25.20 crore).

The paid-up capital of the company is Rs.28.00 crore (2,80,00,000 equity shares of Rs.10 each) out of which the Central Government holds 78.56 per cent.

The DCI was established in 1976 to provide integrated dredging service to the Major Ports of the country. It was upgraded to a Schedule 'B' PSU from 'C' in 2002.

UNI