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Nalco to pay 15 per cent dividend

BHUBANESWAR: National Aluminium Company Ltd., (NALCO), the country's leading manufacturer and exporter of alumina and aluminium, has announced a second interim dividend of 15 per cent for the financial year 2006-07.

This is on a total paid up capital of Rs. 644.31 crores for the current fiscal. Last month, the company paid an interim dividend of 35 per cent and together, the pay out works out to Rs. 322.15 crores as 50 per cent interim dividend, according to a spokesman of the company.

During 2004-05 and 2005-06, the company paid 40 per cent and 50 per cent divided respectively on the same paid up capital.Meanwhile, the company has signed a memorandum of understanding (MoU) with the Union Ministry of Mines for the financial year 2007-08 in which it has projected more than 100 per cent capacity utilisation of its aluminium smelter and alumina refinery

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