Kribhco pays 20% dividend to HAFED

Chandigarh, Oct 16 (UNI) The Krishak Bharti Cooperative Ltd (KRIBHCO) released a dividend of 20 per cent to the Haryana State Cooperative Supply and Marketing Federation Ltd (HAFED) for the financial year 2007-08 on its share capital of Rs 8.77 crore.

Presenting a dividend warrant of Rs 1.72 crore to HAFED Managing Director Sudhir Rajpal, KRIBHCO Senior State Marketing Manager R K Kaushik said this was the fourth year in a row that the KRIBHCO, a premier fertiliser producing farmers cooperative society, had distributed 20 per cent dividend to its shareholders.

He added that the sale of urea during the year 2007-08 was all time record high of 36.26 lakh MT against the best of 34.63 lakh MT during th previous year .

Reiterating HAFED's commitment to the development of cooperatives in the state, Mr Sudhir Rajpal said arrangements for an adequate supply of urea for farmers had already been made in Haryana.

Posting a pre-tax profit of Rs 272.14 crore during the financial year 2007-08, KRIBHCO, a multi state cooperative society, is engaged in production and marketing of chemical fertilisers, bio fertilisers.

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