By Bizodisha Bureau, Bhubaneswar, March 12, 2018: The blue chip public sector Navaratna National Aluminium Company Limited (NALCO), has declared an interim dividend of Rs 908.48 crore for 2017-18.

This amounts to 94%, i.e. Rs 4.70 per share of Rs.5/- each, amounting to Rs. 908.48 crore for the financial year 2017-18, on the paid-up equity share capital of Rs.966.46 crore. This is the highest-ever dividend declared by the company since inception.

Nalco chairman and managing director, Tapan Kumar Chand presented a cheque of Rs 546.95 crore as interim dividend to union minister of mines, rural development and panchyati raj, Narendra Singh Tomar, in the presence of union minister of state for mines Haribhai Parthibhai Chaudhary.

Tomar appreciated the dedicated efforts of Dr. Chand and his team for the effective functioning and five-fold increase in profit of NALCO in third quarter of this financial year.

Since inception, NALCO has paid a total of Rs.7273.59 crore as dividend including Rs.5918.39 crore as share of Govt. of India.