CWC pays Rs 10 crore dividend to Govt

New Delhi, Oct 24 (UNI) Central Warehousing Corporation (CWC) today presented a cheque of Rs 10.10 crore as dividend to the Government.

CWC Managing Director N K Choubey handed over the cheque of Rs 10.10 crore as dividend on the paid up capital of Central Government to Mr Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food and Public Distribution.

The CWC has declared a dividend of 27 per cent for the year 2006-07.

The CWC is a profit making PSU and has been declaring dividend to the shareholders for the last three decades. During the year 2006-07 CWC achieved highest ever turnover of Rs 686.44 crore with the highest ever profit before tax of Rs 133.80 crore.

The profit after tax is Rs 88.70 crore.

Set up with the main objective of providing scientific storage facilities for agricultural inputs and produce and other notified commodities, the CWC is operating 496 warehouses with a total storage capacity of 99.76 lakh metric tonne with an average utilisation of 79 per cent.

The Corporation is also operating 95 custom bonded warehouses and three air cargo complexes.

CWC in tie up with Indian railways has started a new concept of rail side warehousing complex. About 22 locations in different railways zones have been sanctioned to the Corporation for this purpose.

UNI