Kribhco releases 20 per cent dividend to Hafed

Chandigarh, Oct 16 (UNI) The Krishak Bharti Cooperative Limited (KRIBHCO) released a dividend of 20 per cent to the Haryana State Cooperative Supply and Marketing Federation Limited (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 further said 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 .

Reitreating 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.

KRIBHCO has achieved excellent financial results in the financial year 2007-08. It has posted a pre tax profit of Rs.272.14 crore during the year.

Krishak Bharati Cooperative Limited (KRIBHCO), a Multi State Cooperative Society, engaged in production and marketing of Chemical Fertilisers, Bio Fertilisers and Seeds had fully imbibed the cooperative philosophy and promoting the societies by way of making available agricultural inputs backed by various promotional and technical educational programmes.

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