Current metal prices to hold momentum; dividend payout from cash reserves: NALCO

National Aluminium Company (NALCO) Chairman and Managing Director (MD) Sridhar Patra on Friday said that the metal prices will continue to remain higher.

In an interview to CNBC-TV18, Patra said, “The metal (aluminium) price is around USD 3,000 per tonne and we are quite confident that this price will prevail and we will get better margin in Q4 (FY22).”

Talking about cash reserves, he said they will be used for dividend payout and capex plans. “Cash will be used as equity funding for the ongoing capacity expansion and we have also paid interim dividend; the first dividend of Rs 2 per share and a second interim dividend of Rs 3 per share; both work out to Rs 5 per share... So the cash reserve will be utilised for dividend payment and investment in the ongoing business,” said Patra.