Nalco pays 45 per cent interim dividend to achieve Navratna Status

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New Delhi, Marc 10 (UNI) The Orissa based National Aluminium Company Limited (NALCO) has announced an interim dividend of 45 per cent on a paid-up capital of Rs 644.31 crore, amounting to Rs 289.94 crore for the financial year 2007-08.

The dividend cheque for Rs 252.67 crore on the 87.15 per cent shares held by the Government of India was handed over to Sis Ram Ola, Union Minister of Mines, by C R Pradhan, CMD, NALCO here today, in the presence of Mr J P Singh, Secretary, Ministry of Mines, and other senior officials of the Ministry and NALCO.

The balance amount of Rs 37.27 crores has been disbursed to other shareholders of the Company like banks, financial institutions and individual shareholders.

The Minister expressed happiness at the increasing profits being incurred by NALCO. He announced that NALCO would soon become a Navratna Company and thus ruled out any talks about the investment of the Company. He stressed that NALCO would remain a PSU and expressed hope that in the future would continue to achieve increasing profits and pay richer dividends to the Government.

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