The Hindu : Business : Nalco approves 50 p.c. dividend

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Friday, Sep 29, 2006
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Nalco approves 50 p.c. dividend

Special Correspondent

Achieves record production and profitability in 2005-06

BHUBANESWAR: The shareholders of National Aluminium Company (Nalco) on Thursday approved a dividend of 50 per cent for 2005-06.

The dividend of 50 per cent, which included the 20 per cent interim paid in February, amounted to Rs. 322.16 crore.

At the 25th annual general meeting held here on Thursday, the shareholders also approved the company's annual accounts for 2005-06 with a record net profit of Rs.1,562.20 crore.

Addressing the meeting, the company's Chairman-cum-Managing Director, C. R. Pradhan, said the company during 2005-06 achieved the highest-ever production and profitability since inception.

The bauxite mines achieved a record production of 48.54 lakh tonnes against 48.51 lakh tonnes in 2004-05. The alumina refinery also produced a record quantity of 15.90 lakh tonnes of alumina against 15.75 lakh tonnes in the previous year. Similarly, aluminium metal production at 3.59 lakh tonnes was an all-time high, compared to 3.38 lakh tonnes in 2004-05.

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