DCI pays dividend of Rs 16.5 crore

New Delhi, Mar 26 (UNI) The Dredging Corporation of India (DCI), a 'mini ratna' PSU, presented an interim dividend of Rs 16.50 crore for 2007-08 to Shipping Minister T R Baalu here today.

DCI Chairman and Managing Director Capt S S Tripathi, who presented the dividend amount to Mr Baalu, said the Board of Directors of the company had declared an interim dividend of 75 per cent for 2007-08 on the paid-up capital of the DCI involving an amount of Rs 21 crore.

The total turnover of the company during the year 2006-07 was a record Rs 622.09 crore. The profit before tax for the year stood at Rs 206.39 crore. The net profit for the year was also a record at Rs 188.73 crore.

As per the unaudited results for the period of nine months ended December 2008, the turnover is Rs 514.42 crore, profit before tax is Rs 116.85 crore and net profit is Rs 105.36 crore.

The paid-up capital of the DCI is Rs 28 crore having 2,80 crore equity shares of Rs 10 each, of which 78.56 per cent is with the Central government.

The DCI was established in 1976 to provide integrated dredging service to major ports of the country. Its clients include major ports, non-major ports, the Indian Navy and state governments.

UNI SKS SR BD1938