The Centre will receive ₹1,553 crore as its share of the interim dividend declared by mining major NMDC for the current fiscal.
The State-owned company, whose board had approved an interim dividend of ₹7.76 per equity share (face value of ₹1 each), said the outgo would be ₹2,274 crore of which ₹1,553 crore would be the Centre’s share. The government holds 69.65% stake in the company.
In the last ten years, NMDC had paid about ₹23,288 crore in dividend to its shareholders of which the Centre’s share was about ₹18,536 crore. It had also gone for a share buyback in FY-21, amounting to ₹1,378 crore of which the government received ₹1,377 crore, a statement from the company on Friday said.
CMD Sumit Deb said NMDC is growing at a fast pace and set new production records in the last quarter. Its performance will help boost country’s economy and “we are confident of continuing the good work in the coming years as well.”
You have reached your limit for free articles this month.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Support Quality Journalism.
*Our Digital Subscription plans do not currently include the e-paper, crossword and print.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
Please Email the Editor